Cover
Cover - shares | 3 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-33383 | |
Entity Registrant Name | Super Micro Computer, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0353939 | |
Entity Address, Address Line One | 980 Rock Avenue | |
Entity Address, City or Town | San Jose | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95131 | |
City Area Code | 408 | |
Local Phone Number | 503-8000 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | SMCI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Smaller Reporting Company | false | |
Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 52,922,886 | |
Entity Central Index Key | 0001375365 | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 238,268 | $ 267,397 |
Accounts receivable, net of allowance for credit losses of $510 and $1,753 at September 30, 2022 and June 30, 2022, respectively (including accounts receivable from related parties of $10,249 and $8,398 at September 30, 2022 and June 30, 2022, respectively) | 736,312 | 834,513 |
Inventories | 1,736,055 | 1,545,606 |
Prepaid expenses and other current assets (including receivables from related parties of $34,551 and $24,412 at September 30, 2022 and June 30, 2022, respectively) | 169,245 | 158,799 |
Total current assets | 2,879,880 | 2,806,315 |
Investment in equity investee | 4,352 | 5,329 |
Property, plant and equipment, net | 290,752 | 285,972 |
Deferred income taxes, net | 89,155 | 69,929 |
Other assets | 37,144 | 37,532 |
Total assets | 3,301,283 | 3,205,077 |
Current liabilities: | ||
Accounts payable (including amounts due to related parties of $94,029 and $87,355 at September 30, 2022 and June 30, 2022, respectively) | 785,025 | 655,403 |
Accrued liabilities (including amounts due to related parties of $28,261 and $18,676 at September 30, 2022 and June 30, 2022, respectively) | 213,521 | 212,419 |
Income taxes payable | 68,411 | 41,743 |
Short-term debt | 101,173 | 449,146 |
Deferred revenue | 185,225 | 111,313 |
Total current liabilities | 1,353,355 | 1,470,024 |
Deferred revenue, non-current | 134,625 | 122,548 |
Long-term debt | 148,551 | 147,618 |
Other long-term liabilities | 39,549 | 39,140 |
Total liabilities | 1,676,080 | 1,779,330 |
Commitments and contingencies (Note 11) | ||
Stockholders’ equity: | ||
Common stock and additional paid-in capital, $0.001 par value Authorized shares: 100,000; Outstanding shares: 51,509 and 50,582 at March 31, 2022 and June 30, 2021, respectively Issued shares: 51,509 and 50,582 at March 31, 2022 and June 30, 2021, respectively | 497,183 | 481,741 |
Accumulated other comprehensive income | 514 | 911 |
Retained earnings | 1,127,339 | 942,923 |
Total Super Micro Computer, Inc. stockholders’ equity | 1,625,036 | 1,425,575 |
Noncontrolling interest | 167 | 172 |
Total stockholders’ equity | 1,625,203 | 1,425,747 |
Total liabilities and stockholders’ equity | $ 3,301,283 | $ 3,205,077 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000 | 100,000 |
Common stock, shares outstanding (in shares) | 52,851 | 52,311 |
Common stock, shares issued (in shares) | 52,851 | 52,311 |
Affiliated | ||
Current assets: | ||
Accounts receivable, allowance for credit loss | $ 510 | $ 1,753 |
Accounts receivable | 10,249 | 8,398 |
Prepaid expenses, related party | 34,551 | 24,412 |
Current liabilities: | ||
Accounts payable | 94,029 | 87,355 |
Accrued liabilities, related party | $ 28,261 | $ 18,676 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Income Statement [Abstract] | ||
Net sales (including related party sales of $25,055 and $30,922 in the three months ended September 30, 2022 and 2021, respectively) | $ 1,852,130 | $ 1,032,730 |
Cost of sales (including related party purchases of $96,536 and $87,687 in the three months ended September 30, 2022 and 2021, respectively) | 1,504,595 | 894,591 |
Gross profit | 347,535 | 138,139 |
Operating expenses: | ||
Research and development | 74,243 | 65,143 |
Sales and marketing | 29,363 | 21,624 |
General and administrative | 23,806 | 22,244 |
Total operating expenses | 127,412 | 109,011 |
Income from operations | 220,123 | 29,128 |
Other income, net | 8,054 | 50 |
Interest expense | (3,938) | (804) |
Income before income tax provision | 224,239 | 28,374 |
Income tax provision | (38,934) | (3,325) |
Share of (loss) income from equity investee, net of taxes | (889) | 388 |
Net income | $ 184,416 | $ 25,437 |
Net income per common share: | ||
Basic (in dollars per share) | $ 3.51 | $ 0.50 |
Diluted (in dollars per share) | $ 3.35 | $ 0.48 |
Weighted-average shares used in the calculation of net income per common share: | ||
Basic (in shares) | 52,598 | 50,796 |
Diluted (in shares) | 55,017 | 52,916 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Parenthetical) - Affiliated - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Related party sales | $ 25,055 | $ 30,922 |
Related party purchases | $ 96,536 | $ 87,687 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 184,416 | $ 25,437 |
Other comprehensive loss, net of tax: | ||
Foreign currency translation loss | (397) | (4) |
Total other comprehensive (loss), net of tax | (397) | (4) |
Total comprehensive income | $ 184,019 | $ 25,433 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock and Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Non-controlling Interest |
Beginning balance (in shares) at Jun. 30, 2021 | 50,582,078 | ||||
Beginning balance at Jun. 30, 2021 | $ 1,096,398 | $ 438,012 | $ 453 | $ 657,760 | $ 173 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options, net of taxes (in shares) | 370,066 | ||||
Exercise of stock options, net of taxes | 6,018 | $ 6,018 | |||
Release of common stock shares upon vesting of restricted stock units (in shares) | 173,771 | ||||
Shares withheld for the withholding tax on vesting of restricted stock units (in shares) | (54,071) | ||||
Shares withheld for the withholding tax on vesting of restricted stock units | (2,069) | $ (2,069) | |||
Stock-based compensation | 7,015 | $ 7,015 | |||
Other comprehensive loss | (4) | (4) | |||
Net income (loss) | 25,440 | 25,437 | 3 | ||
Ending balance (in shares) at Sep. 30, 2021 | 51,071,844 | ||||
Ending balance at Sep. 30, 2021 | $ 1,132,798 | $ 448,976 | 449 | 683,197 | 176 |
Beginning balance (in shares) at Jun. 30, 2022 | 52,311,000 | 52,311,014 | |||
Beginning balance at Jun. 30, 2022 | $ 1,425,747 | $ 481,741 | 911 | 942,923 | 172 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options, net of taxes (in shares) | 405,226 | 405,226 | |||
Exercise of stock options, net of taxes | $ 8,144 | $ 8,144 | |||
Release of common stock shares upon vesting of restricted stock units (in shares) | 193,532 | ||||
Shares withheld for the withholding tax on vesting of restricted stock units (in shares) | (58,303) | ||||
Shares withheld for the withholding tax on vesting of restricted stock units | (3,716) | $ (3,716) | |||
Stock-based compensation | 11,014 | $ 11,014 | |||
Other comprehensive loss | (397) | (397) | |||
Net income (loss) | $ 184,411 | 184,416 | (5) | ||
Ending balance (in shares) at Sep. 30, 2022 | 52,851,000 | 52,851,469 | |||
Ending balance at Sep. 30, 2022 | $ 1,625,203 | $ 497,183 | $ 514 | $ 1,127,339 | $ 167 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
OPERATING ACTIVITIES: | ||
Net income | $ 184,416 | $ 25,437 |
Reconciliation of net income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 8,547 | 7,548 |
Stock-based compensation expense | 11,014 | 7,015 |
Allowance (recovery) for credit losses | 233 | (124) |
Provision for excess and obsolete inventories | 9,625 | 3,478 |
Share of loss (income) from equity investee | 889 | (388) |
Foreign currency exchange (gain) loss | (9,203) | 45 |
Deferred income taxes, net | (19,226) | 19 |
Other | (306) | 5 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net (including changes in related party balances of $(1,851) and $(5,315) during the three months ended September 30, 2022 and 2021, respectively) | 94,855 | 5,859 |
Inventories | (200,074) | (147,087) |
Prepaid expenses and other assets (including changes in related party balances of $(10,139) and $(2,446) during the three months ended September 30, 2022 and 2021, respectively) | (11,991) | 6,109 |
Accounts payable (including changes in related party balances of $6,674 and $7,658 during the three months ended September 30, 2022 and 2021, respectively) | 132,302 | (54,343) |
Income taxes payable | 26,668 | 1,532 |
Deferred revenue | 85,989 | 13,115 |
Accrued liabilities (including changes in related party balances of $9,585 and $1,575 during the three months ended September 30, 2022 and 2021, respectively) | 8 | (1,330) |
Other long-term liabilities (including changes in related party balances of $(105) and $0 during the three months ended September 30, 2022 and 2021, respectively) | (159) | (1,461) |
Net cash provided by (used in) operating activities | 313,587 | (134,571) |
INVESTING ACTIVITIES: | ||
Purchases of property, plant and equipment (including payments to related parties of $729 and $400 during the three months ended September 30, 2022 and 2021, respectively) | (10,746) | (10,802) |
Investment in a privately-held company | 0 | (1,100) |
Net cash used in investing activities | (10,746) | (11,902) |
FINANCING ACTIVITIES: | ||
Proceeds from borrowings | 79,141 | 269,806 |
Repayment of debt | (414,737) | (89,476) |
Proceeds from exercise of stock options, net of taxes | 8,144 | 6,018 |
Payment of withholding tax on vesting of restricted stock units | (3,716) | (2,069) |
Other | (15) | (17) |
Net cash (used in) provided by financing activities | (331,183) | 184,262 |
Effect of exchange rate fluctuations on cash | (1,472) | (11) |
Net (decrease) increase in cash, cash equivalents and restricted cash | (29,813) | 37,778 |
Cash, cash equivalents and restricted cash at the beginning of the period | 268,559 | 233,449 |
Cash, cash equivalents and restricted cash at the end of the period | 238,746 | 271,227 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 4,076 | 508 |
Cash paid for taxes, net of refunds | 27,274 | 2,732 |
Non-cash investing and financing activities: | ||
Unpaid property, plant and equipment purchases (including due to related parties of $3,782 and $1,360 as of September 30, 2022 and 2021, respectively) | 6,599 | 13,063 |
Right of use ("ROU") assets obtained in exchange for operating lease commitments | $ 750 | $ 6,119 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows (Parenthetical) - Affiliated - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Net cash provided by (used in) operating activities | ||
Increase (decrease) in accounts receivable, related parties | $ (1,851) | $ (5,315) |
Increase (decrease) in prepaid expenses and other current assets, related parties | (10,139) | (2,446) |
Increase (decrease) in accounts payable, related parties | 6,674 | 7,658 |
Increase (decrease) in accrued liability, related parties | 9,585 | 1,575 |
Increase (decrease) in other long-term liabilities, related parties | (105) | 0 |
Purchases of property, plant and equipment | 729 | 400 |
Unpaid property, plant and equipment purchases, related parties | $ 3,782 | $ 1,360 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Significant Accounting Policies and Estimates No material changes have been made to the significant accounting policies of Super Micro Computer, Inc., a corporation incorporated under the laws of Delaware, and its consolidated entities (together, the “Company”), disclosed in Part II, Item 8, Note 1, "Organization and Summary of Significant Accounting Policies," in its Annual Report on Form 10-K, filed on August 29, 2022, for the year ended June 30, 2022. Management's estimates take into consideration, as applicable, general macroeconomic conditions, inflation, changes in interest rates and geopolitical events. Basis of Presentation The unaudited condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements included herein reflect all adjustments, including normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the periods presented. The consolidated results of operations for the three months ended September 30, 2022 are not necessarily indicative of the results that may be expected for future quarters or for the fiscal year ending June 30, 2023. Concentration of Supplier Risk Certain materials used by the Company in the manufacturing of its products are available from a limited number of suppliers. Shortages could occur in these materials due to an interruption of supply or increased demand in the industry. Two suppliers accounted for 16.1% and 25.7% of total purchases for the three months ended September 30, 2022, and two suppliers accounted for 20.1% and 6.3% of total purchases for the three months ended September 30, 2021. Purchases from Ablecom, and Compuware, related parties of the Company (see Part I, Item 1, Note 8, "Related Party Transactions") accounted for a combined 6.4% and 9.6% of total cost of sales for the three months ended September 30, 2022 and 2021, respectively. Concentration of Credit Risk Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, investment in an auction rate security and accounts receivable. One customer accounted for 21.9% of the net sales for the three months ended September 30, 2022 and no single customer accounted for 10% or more of the net sales for the three months ended September 30, 2021. Two customers accounted for greater than 10% of the Company's accounts receivable, net as of September 30, 2022 which accounted for 11.0% and 10.3%. One customer accounted for 21.7% of the Company's accounts receivable, net as of June 30, 2022. Accounting Pronouncements Recently Adopted There were no new pronouncements recently adopted. Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued authoritative guidance, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendments in this update do not apply to contract modifications made after December 31, 2022, new hedging relationships entered into after December 31, 2022, and existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that apply certain optional expedients in which the accounting effects are recorded through the end of the hedging relationship. The amendments are effective for all entities through December 31, 2022. In January 2021, the FASB issued further guidance on this topic, which clarified the scope and application of the original guidance. In April 2022, FASB issued a proposed accounting standard update for the deferral of the sunset date of Topic 848 and amendments to the definition of secured overnight financing rate (“SOFR"). The proposed amendment defers the sunset date of Topic 848 to December 31, 2024. The Company has loans and lines of credit with various financial institutions. Benchmark interest rates are used to calculate the interest on borrowings under the Chang Hwa Bank, CTBC, HSBC, Mega Bank Credit Facilities. LIBOR was used to calculate the interest on borrowings under the Company's 2018 Bank of America Credit Facility and E.SUN Credit Facility. The 2018 Bank of America Credit Facility was amended on June 28, 2021 to provide for a new maturity date of June 28, 2026 and fallback terms related to LIBOR replacement mechanics. On March 3, 2022, the 2018 Bank of America Credit Facility was amended to, among other items, increase the size of the facility from $200.0 million to $350.0 million and update provisions relating to payments and LIBOR replacement mechanics to SOFR. As these amendments had other contemporaneous changes to the facility, including the amount of borrowings permitted under the facility and not just directly related to LIBOR replacement, optional expedients under this guidance cannot be elected. The Company is currently evaluating the overall impact of the adoption of this guidance and does not expect it to have material impact on its consolidated financial statements and disclosures. |
Revenue
Revenue | 3 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue Disaggregation of Revenue The Company disaggregates revenue by type of product and by the geographical market in order to depict the nature, amount, and timing of revenue and cash flows. Service revenues, which are less than 10%, are not a significant component of total revenue, and are aggregated within the respective categories. The following is a summary of net sales by product type (in thousands): Three Months Ended 2022 2021 Server and storage systems $ 1,713,056 $ 849,856 Subsystems and accessories 139,074 182,874 Total $ 1,852,130 $ 1,032,730 Server and storage systems constitute an assembly and integration of subsystems and accessories, and related services. Subsystems and accessories are comprised of server boards, chassis and accessories. International net sales are based on the country and geographic region to which the products were shipped. The following is a summary for the three months ended September 30, 2022 and 2021, of net sales by geographic region (in thousands): Three Months Ended 2022 2021 United States $ 1,295,504 $ 560,948 Asia 270,024 263,086 Europe 235,074 179,694 Other 51,528 29,002 Total $ 1,852,130 $ 1,032,730 Contract Balances Generally, the payment terms of the Company’s offerings range from 30 to 60 days. In certain instances, customers may prepay for products and services in advance of delivery. Receivables relate to the Company’s unconditional right to consideration for performance obligations either partially or fully completed. Contract assets are rights to consideration in exchange for goods or services that the Company has transferred to a customer when such right is conditional on something other than the passage of time. Such contract assets are insignificant to the Company’s condensed consolidated financial statements. Contract liabilities consist of deferred revenue and relate to amounts invoiced to or advance consideration received from customers, which precede the Company’s satisfaction of the associated performance obligations. The Company’s deferred revenue primarily results from customer payments received upfront for extended warranties and on-site services because these performance obligations are satisfied over time. Additionally, at times, deferred revenue may fluctuate due to the timing of advance consideration received from non-cancellable non-refundable contract liabilities relating to the sale of future products. Revenue recognized during the three months ended September 30, 2022, which was included in the deferred revenue balance as of June 30, 2022, of $233.8 million, was $33.5 million. Deferred revenue increased $86.0 million as of September 30, 2022 as compared to the fiscal year ended June 30, 2022 of which $69.6 million was due to the increase in non-cancellable non-refundable advance consideration or cash consideration received from customers which preceded the Company's satisfaction of the associated performance obligations relating to product sales expected to be fulfilled in the next 12 months. Transaction Price Allocated to the Remaining Performance Obligations Remaining performance obligations represent in aggregate the amount of transaction price that has been allocated to performance obligations not delivered, or only partially delivered, as of the end of the reporting period. The Company applies the exemption to not disclose information about remaining performance obligations that are part of a contract that has an original expected duration of one year or less. These performance obligations generally consist of services, such as on-site services, including integration services and extended warranty services that are contracted for one year or less, and products for which control has not yet been transferred. The value of the transaction price allocated to remaining performance obligations as of September 30, 2022 was $319.8 million . The Company expects to recognize approximately 58% of remaining performance obligations as revenue in the next 12 months, and the remainder thereafter. Capitalized Contract Acquisition Costs and Fulfillment Cost Contract acquisition costs are those incremental costs that the Company incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained. Contract acquisition costs consist primarily of incentive bonuses. Contract acquisition costs are considered incremental and recoverable costs of obtaining and fulfilling a contract with a customer and are therefore capitalizable. The Company applies the practical expedient to expense incentive bonus costs as incurred if the amortization period would be one year or less, generally upon delivery of the associated server and storage systems or components. Where the amortization period of the contract cost would be more than a year, the Company applies judgment in the allocation of the incentive bonus cost asset between hardware and service performance obligations and expenses the cost allocated to the hardware performance obligations upon delivery of associated server and storage systems or components and amortizes the cost allocated to service performance obligations over the period the services are expected to be provided. Contract acquisition costs allocated to service performance obligations that are subject to capitalization are insignificant to the Company’s condensed consolidated financial statements. Contract fulfillment costs consist of costs paid in advance for outsourced services provided by third parties to the extent they are not in the scope of other guidance. Fulfillment costs paid in advance for outsourced services provided by third parties are capitalized and amortized over the period the services are expected to be provided. Such fulfillment costs are insignificant to the Company’s condensed consolidated financial statements. |
Net Income Per Common Share
Net Income Per Common Share | 3 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | Net Income Per Common Share The following table shows the computation of basic and diluted net income per common share for the three months ended September 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended 2022 2021 Numerator: Net income $ 184,416 $ 25,437 Denominator: Weighted-average shares outstanding 52,598 50,796 Effect of dilutive securities 2,419 2,120 Weighted-average diluted shares 55,017 52,916 Basic net income per common share $ 3.51 $ 0.50 Diluted net income per common share $ 3.35 $ 0.48 For the three months ended September 30, 2022 and 2021, the Company had stock options, restricted stock units ("RSUs") and performance based restricted stock units ("PRSUs") outstanding that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net income per share in the periods presented, as their effect would have been anti-dilutive. The anti-dilutive common share equivalents resulting from outstanding equity awards were 307,395 and 694,211 for the three months ended September 30, 2022 and 2021, respectively. |
Balance Sheet Components
Balance Sheet Components | 3 Months Ended |
Sep. 30, 2022 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Components | Balance Sheet Components The following tables provide details of the selected balance sheet items (in thousands): Inventories: September 30, 2022 June 30, 2022 Finished goods $ 1,096,811 $ 1,025,555 Work in process 333,092 209,576 Purchased parts and raw materials 306,152 310,475 Total inventories $ 1,736,055 $ 1,545,606 During the three months ended September 30, 2022 and 2021, the Company recorded a net provision for excess and obsolete inventory to cost of sales totaling $9.6 million and $3.5 million, respectively. The Company classifies subsystems and accessories that may be sold separately or incorporated into systems as finished goods. Prepaid Expenses and Other Current Assets: September 30, 2022 June 30, 2022 Other receivables (1) $ 150,082 $ 138,054 Prepaid expenses 7,534 5,632 Deferred service costs 6,113 5,562 Prepaid income tax — 2,352 Restricted cash — 251 Others 5,516 6,948 Total prepaid expenses and other current assets $ 169,245 $ 158,799 (1) Other receivables are receivables from contract manufacturers based on certain buy-sell arrangements of $120.3 million and $98.9 million as of September 30, 2022 and June 30, 2022, respectively. Cash, Cash equivalents and Restricted cash: September 30, 2022 June 30, 2022 Cash and cash equivalents $ 238,268 $ 267,397 Restricted cash included in prepaid expenses and other current assets — 251 Restricted cash included in other assets 478 911 Total cash, cash equivalents and restricted cash $ 238,746 $ 268,559 Property, Plant, and Equipment: September 30, 2022 June 30, 2022 Buildings $ 143,496 $ 143,509 Machinery and equipment 119,978 113,665 Land 84,616 84,616 Furniture and fixtures 47,600 43,282 Building and leasehold improvements 45,709 45,169 Software 23,273 23,186 Building construction in progress 303 303 464,975 453,730 Accumulated depreciation and amortization (174,223) (167,758) Property, plant and equipment, net $ 290,752 $ 285,972 Other Assets: September 30, 2022 June 30, 2022 Operating lease right-of-use asset $ 22,497 $ 23,679 Deferred service costs, non-current 7,518 6,316 Prepaid expense, non-current 1,949 2,011 Investment in auction rate security 1,590 1,590 Deposits 1,215 1,069 Restricted cash, non-current 478 911 Others 1,897 1,956 Total other assets $ 37,144 $ 37,532 Accrued Liabilities: September 30, 2022 June 30, 2022 Accrued payroll and related expenses $ 48,779 $ 57,736 Contract manufacturers liabilities 48,579 41,125 Customer deposits 35,099 30,421 Accrued legal liabilities (Note 11) 18,250 18,250 Accrued cooperative marketing expenses 9,722 8,757 Accrued warranty costs 8,540 9,073 Operating lease liability 6,960 7,139 Accrued professional fees 3,130 4,281 Others 34,461 35,637 Total accrued liabilities $ 213,521 $ 212,419 Performance Awards Liability In March 2020, the Board of Directors (the “Board”) approved performance bonuses for the Chief Executive Officer, a senior executive and two members of the Board, which payments will be earned when specified market and performance conditions are achieved. The Chief Executive Officer’s total cash bonus opportunity was $8.1 million, divided into two equal tranches. Each tranche would be earned if the average closing price for the Company’s common stock reached specified targets. The Board retained the flexibility to reduce the amount payable under the first tranche (but not the second tranche) based on performance goals. Both price targets were reached during the fiscal year ended June 30, 2021, and the second tranche totaled $4.0 million was paid in full. As of June 30, 2021, the Company also expected it would likely pay the first tranche in full, and therefore recorded an expense of $3.6 million since March 2020 relating to the first tranche. In September 2021, after the Company had closed its books for the year ended June 30, 2021, the Board decided to exercise its discretion to reduce the amount to be paid to the Chief Executive Officer for the first tranche to $2.0 million, which was paid in the quarter ended December 31, 2021. As a result of the Board’s decision to reduce the amount to be paid under the first tranche, the Company adjusted the $3.6 million expense previously recorded for the first tranche to the new amount of $2.0 million, which resulted in the Company recognizing a $1.6 million benefit from this adjustment during the quarter ended September 30, 2021. This performance award to the Chief Executive Officer was concluded in the year ended June 30, 2022. As such, there is no further transaction thereafter. The benefit recognized during the three months ended September 30, 2022 and 2021 was none and $1.6 million, respectively. Other Long-term Liabilities: September 30, 2022 June 30, 2022 Accrued unrecognized tax benefits including related interests and penalties, non-current $ 19,686 $ 18,866 Operating lease liability, non-current 15,218 16,661 Accrued warranty costs, non-current 4,163 3,064 Other 482 549 Total other long-term liabilities $ 39,549 $ 39,140 Product Warranties: Three Months Ended 2022 2021 Balance, beginning of the period $ 12,136 $ 12,863 Provision for warranty 8,617 6,386 Costs utilized (8,473) (7,199) Change in estimated liability for pre-existing warranties 423 183 Balance, end of the period 12,703 12,233 Current portion 8,540 9,532 Non-current portion $ 4,163 $ 2,701 |
Fair Value Disclosure
Fair Value Disclosure | 3 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosure | Fair Value DisclosureThe financial instruments of the Company measured at fair value on a recurring basis are included in cash equivalents, other assets and accrued liabilities. The Company classifies its financial instruments, except for its investment in an auction rate security, within Level 1 or Level 2 in the fair value hierarchy because the Company uses quoted prices in active markets or alternative pricing sources and models using market observable inputs to determine their fair value. The Company’s investment in an auction rate security is classified within Level 3 of the fair value hierarchy as the determination of its fair value was not based on observable inputs as of September 30, 2022 and June 30, 2022. The Company is using the discounted cash flow method to estimate the fair value of the auction rate security at each period end and the following assumptions: (i) the expected yield based on observable market rate of similar securities, (ii) the security coupon rate that is reset monthly, (iii) the estimated holding period and (iv) a liquidity discount. The liquidity discount assumption is based on the management estimate of lack of marketability discount of similar securities and is determined based on the analysis of financial market trends over time, recent redemptions of securities and other market activities. Financial Assets and Liabilities Measured on a Recurring Basis The following table sets forth the Company’s financial instruments as of September 30, 2022 and June 30, 2022, which are measured at fair value on a recurring basis by level within the fair value hierarchy. These are classified based on the lowest level of input that is significant to the fair value measurement (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Asset at Assets Money market funds (1) $ 20,550 $ — $ — $ 20,550 Certificates of deposit (2) — 553 — 553 Auction rate security — — 1,590 1,590 Total assets measured at fair value $ 20,550 $ 553 $ 1,590 $ 22,693 June 30, 2022 Level 1 Level 2 Level 3 Asset at Assets Money market funds (1) $ 20,220 $ — $ — $ 20,220 Certificates of deposit (2) — 832 — 832 Auction rate security — — 1,590 1,590 Total assets measured at fair value $ 20,220 $ 832 $ 1,590 $ 22,642 (1) $20.4 million and $20.0 million in money market funds are included cash and cash equivalents and $0.2 million and $0.2 million in money market funds are included in restricted cash, non-current in other assets in the condensed consolidated balance sheets as of September 30, 2022 and June 30, 2022, respectively. (2) $0.2 million and $0.2 million in certificates of deposit are included in cash and cash equivalents, $0.1 million and $0.3 million in certificates of deposit are included in prepaid expenses and other assets, and $0.3 million and $0.3 million in certificates of deposit are included in restricted cash, non-current in other assets in the condensed consolidated balance sheets as of September 30, 2022 and June 30, 2022, respectively. On a quarterly basis, the Company also evaluates the current expected credit loss by co nsidering factors such as historical experience, market data, issuer-specific factors, and current economic conditions. For the three months ended September 30, 2022, the credit losses related to the Company’s investments were not significant. There was no movement in the balances of the Company's financial assets measured at fair value on a recurring basis, consisting of investment in an auction rate security, using significant unobservable inputs (Level 3) for the three months ended September 30, 2022 and 2021. There were no transfers between Level 1, Level 2 or Level 3 financial instruments in the three months ended September 30, 2022 and 2021. The following is a summary of the Company’s investment in an auction rate security as of September 30, 2022 and June 30, 2022 (in thousands): Cost Basis Gross Gross Fair Value Auction rate security $ 1,750 $ — $ (160) $ 1,590 No gain or loss was recognized in other comprehensive income for the auction rate security for the three months ended September 30, 2022 and 2021. The Company measures the fair value of outstanding debt for disclosure purposes on a recurring basis. As of September 30, 2022 and June 30, 2022, total debt of $249.7 million and $596.8 million, respectively, was reported at amortized cost. This outstanding debt was classified as Level 2 as it was not actively traded. The amortized cost of the outstanding debt approximates the fair value. Other Financial Assets - Investments into Non-Marketable Equity Securities The Company's non-marketable equity securities are investments in privately held companies without readily determinable fair values in the amount of $1.2 million as of September 30, 2022 and June 30, 2022. The Company accounts for these investments at cost less impairment, if any, plus or minus changes from observable price changes in orderly transactions for the identical or similar investments by the same issuer. During the three months ended September 30, 2022 and 2021, the Company did not record any upward or downward adjustments to the carrying values of the non-marketable equity securities related to observable price changes. The Company also did not record any impairment to the carrying values of the non-marketable equity securities during the three months ended September 30, 2022 and 2021. |
Short-term and Long-term Debt
Short-term and Long-term Debt | 3 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Short-term and Long-term Debt | Short-term and Long-term Debt Short-term and long-term debt obligations as of September 30, 2022 and June 30, 2022 consisted of the following (in thousands): September 30, June 30, 2022 2022 Line of credit: 2018 Bank of America Credit Facility $ 60,284 $ 268,245 2022 Bank of America Credit Facility — 9,500 Cathay Bank Line of Credit — 30,000 2021 CTBC Credit Lines — 84,800 HSBC Bank Credit Facility 11,000 30,000 2021 E.SUN Bank Credit Facility 9,000 7,800 Mega Bank Credit Facility — 3,500 Total line of credit 80,284 433,845 Term loan facilities: Chang Hwa Bank Credit Facility due October 15, 2026 31,487 33,643 CTBC Bank term loan, due June 4, 2030 37,785 40,372 2021 CTBC Credit Lines, due August 15, 2026 5,706 5,468 2021 E.SUN Bank Credit Facility, due September 15, 2026 40,304 43,064 2022 ESUN Bank Credit Facility, due August 15, 2027 16,373 — Mega Bank Credit Facility, due September 15, 2026 37,785 40,372 Total term loans 169,440 162,919 Total debt 249,724 596,764 Short-term debt and current portion of long-term debt 101,173 449,146 Debt, non-current $ 148,551 $ 147,618 Activities under Revolving Lines of Credit and Term Loans Available borrowings and interest rates as of September 30, 2022 and June 30, 2022 consisted of the following (in thousands except for percentages): September 30, 2022 June 30, 2022 Available borrowings Interest rate Available borrowings Interest rate Line of credit: 2018 Bank of America Credit Facility $ 289,716 4.03% $ 81,755 2.53% 2022 Bank of America Credit Facility $ 20,000 3.36% $ 10,500 1.85% Cathay Bank Line of Credit $ 132,000 4.328% $ 102,000 4.004% 2021 CTBC Credit Lines $ 105,000 1.80% - 2.52% $ 20,200 1.80% - 2.52% Chang Hwa Bank Credit Facility $ 20,000 5.14% $ 20,000 3.50% HSBC Bank Credit Facility $ 19,000 3.84% $ — 1.95% - 2.20% 2021 E.SUN Bank Credit Facility $ — 1.81% $ 22,200 1.81% 2022 E.SUN Bank Credit Facility $ 21,000 4.18% $ — — Mega Bank Credit Facility $ 20,000 2.55% $ 16,500 1.85% Term loan facilities: Chang Hwa Bank Credit Facility due October 15, 2026 $ — 1.30% $ — 1.175% CTBC Bank term loan, due June 4, 2030 $ — 0.95% $ — 0.825% 2021 CTBC Credit Lines, due August 15, 2026 $ 5,193 1.15% $ 6,308 1.025% 2021 E.SUN Bank Credit Facility, due September 15, 2026 $ — 1.495% $ 10,766 1.37% 2022 ESUN Bank Credit Facility, due August 15, 2027 $ — 1.495% $ — — Mega Bank Credit Facility, due September 15, 2026 $ — 1.145% - 1.345% $ — 1.02% - 1.22% The Company entered into a new General Credit Agreement with ESUN Bank during the three months ended September 30, 2022 with the following terms: E.SUN Bank 2022 E.SUN Bank Credit Facility On August 9, 2022 (the “New E.SUN Bank Effective Date”), the Company through its Taiwan subsidiary entered into a new General Credit Agreement with E.SUN Bank, which replaced the 2021 E.SUN Bank Credit Facility (the “New E.SUN Bank Credit Facility”). The New E.SUN Bank Credit Facility permits borrowings of up to (i) NTD 1.8 billion ($61.0 million U.S. dollar equivalent) and (ii) US$30.0 million. Other terms of the New E.SUN Bank Credit Facility are substantially identical to the Prior E.SUN Bank Credit Facility. Generally, interest for base rate loans made under the New E.SUN Bank Credit Facility are based upon an average interbank overnight call loan rate in the finance industry (such as TAIFX) plus a fixed margin, and is subject to occasional adjustment. The New E.SUN Bank Credit Facility has customary default provisions permitting E.SUN Bank to terminate or reduce the credit limit, shorten the credit period, or deem all liabilities due and payable, including in the event the Taiwan subsidiary has an overdue liability at another financial organization. The Company is not a guarantor of the New E.SUN Bank Credit Facility. Terms for specific drawdown instruments issued under the New E.SUN Bank Credit Facility, such as credit amount, term of use, mode of drawdown, specific lending rate, and other relevant terms, are to be set forth in Notifications and Confirmation of Credit Conditions (a “Notification and Confirmation”) negotiated with E.SUN Bank. Under a Notification and Confirmation entered into on the New E.SUN Bank Effective Date, the Subsidiary and E.SUN Bank have agreed to both a medium term credit loan of NTD 680.0 million ($23.0 million U.S. dollar equivalent) with a tenor of five years (the “Medium Term Loan”) and a drawdown of US $30.0 million under the E.SUN Bank Credit Facility for an import loan with a tenor of 120 days (the “Import O/A Loan”). With respect to the Medium Term Loan, the period of use is between April 28, 2022 and April 28, 2023. The interest rate thereunder is based upon a floating annual rate plus a fixed margin, subject to adjustment under certain circumstances. Interest payments are due on a monthly basis. Principal is amortized evenly on a monthly basis, with principal payments subject to a one year grace period prior to the commencement of repayment. The Medium Term Loan will be used by the Taiwan subsidiary to support its manufacturing activities (such as purchase of materials and components) (“Use of Proceeds”). Drawdowns may be in amounts of up to 80% of permitted Use of Proceeds expenses. The Subsidiary is subject to various financial covenants in connection with the Medium Term Loan, including a current ratio, net debt to equity ratio, and interest coverage ratio. The current Medium Term Loan and the prior medium term loan under the Prior E.SUN Bank Credit Facility shall not exceed in aggregate NTD 1.8 billion. With respect to the Import O/A Loan, the period of use is between April 28, 2022 and April 28, 2023. The interest rate thereunder is based on TAIFX3 plus a fixed margin, subject to negotiation on a monthly basis and adjustment under certain circumstances. Interest payments are due on a monthly basis, and principal is repayable on the due date. Neither the Medium Term Loan nor Import O/A loan are secured. As of September 30, 2022 the amount outstanding under the Import O/A Loan was $16.4 million. The interest rate as of September 30, 2022 was 1.495% per annum. As of September 30, 2022 and June 30, 2022, the amounts outstanding under the Import O/A Loan were $9.0 million and $7.8 million, respectively. The interest rate as of September 30, 2022 and June 30, 2022 was 4.18% and 1.81% per annum, respectively. As of September 30, 2022, the amount available for future borrowing under the Import O/A Loan was $21.0 million. Principal payments on short-term and long-term obligations are due as follows (in thousands): Fiscal Year: Principal Payments Remainder of 2023 $ 94,631 2024 37,660 2025 41,491 2026 41,491 2027 18,025 2028 and thereafter 16,426 Total short-term and long-term debt $ 249,724 The Company is in compliance with all the covenants for the outstanding debt. |
Leases
Leases | 3 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | Leases The Company leases offices, warehouses and other premises, vehicles and certain equipment leased under non-cancelable operating leases. Operating lease expense recognized and supplemental cash flow information related to operating leases for the three months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended 2022 2021 Operating lease expense (including expense for lease agreements with related parties of $143 and $246 for the three months ended September 30, 2022 and 2021, respectively) $ 2,110 $ 2,182 Cash payments for operating leases (including payments to related parties of $130 and $279 for the three months ended September 30, 2022 and 2021, respectively) $ 2,038 $ 2,205 New operating lease assets obtained in exchange for operating lease liabilities $ 750 $ 6,119 During the three months ended September 30, 2022 and 2021, the Company's costs related to short-term lease arrangements for real estate and non-real estate assets were immaterial. Non-lease variable payments expensed in the three months ended September 30, 2022 and 2021 were immaterial. As of September 30, 2022, the weighted average remaining lease term for operating leases was 3.6 years and the weighted average discount rate was 3.0%. Maturities of operating lease liabilities under noncancelable operating lease arrangements as of September 30, 2022 were as follows (in thousands): Fiscal Year: Maturities of operating leases 2023 $ 5,828 2024 6,664 2025 6,252 2026 2,542 2027 1,563 2028 and beyond 535 Total future lease payments 23,384 Less: Imputed interest (1,206) Present value of operating lease liabilities $ 22,178 As of September 30, 2022, commitments under short-term lease arrangements, and operating and financing leases that have not yet commenced were immaterial. The Company has entered into lease agreements with related parties. See Part I, Item 1, Note 8, "Related Party Transactions," for a further discussion. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions The Company has a variety of business relationships with Ablecom and Compuware. Ablecom and Compuware are both Taiwan corporations. Ablecom is one of the Company’s major contract manufacturers; Compuware is both a distributor of the Company’s products and a contract manufacturer for the Company. Ablecom’s Chief Executive Officer, Steve Liang, is the brother of Charles Liang, the Company’s President, Chief Executive Officer and Chairman of the Board. Steve Liang and his family members owned approximately 28.8% of Ablecom’s stock and Charles Liang and his spouse, Sara Liu, who is also an officer and director of the Company, collectively owned approximately 10.5% of Ablecom’s capital stock as of September 30, 2022. Bill Liang, a brother of both Charles Liang and Steve Liang, is a member of the Board of Directors of Ablecom. Bill Liang is also the Chief Executive Officer of Compuware, a member of Compuware’s Board of Directors and a holder of a significant equity interest in Compuware. Steve Liang is also a member of Compuware’s Board of Directors and is an equity holder of Compuware. Neither Charles Liang nor Sara Liu own any capital stock of Compuware and the Company does not own any of Ablecom or Compuware’s capital stock. Dealings with Ablecom The Company has entered into a series of agreements with Ablecom, including multiple product development, production and service agreements, product manufacturing agreements, manufacturing services agreements and lease agreements for warehouse space. Under these agreements, the Company outsources to Ablecom a portion of its design activities and a significant part of its server chassis manufacturing as well as an immaterial portion of other components. Ablecom manufactured approximately 88.4% and 92.5% of the chassis included in the products sold by the Company during the three months ended September 30, 2022 and 2021, respectively. With respect to design activities, Ablecom generally agrees to design certain agreed-upon products according to the Company’s specifications, and further agrees to build the tools needed to manufacture the products. The Company pays Ablecom for the design and engineering services, and further agrees to pay Ablecom for the tooling. The Company retains full ownership of any intellectual property resulting from the design of these products and tooling. With respect to the manufacturing aspects of the relationship, Ablecom purchases most of materials needed to manufacture the chassis from third parties and the Company provides certain components used in the manufacturing process (such as power supplies) to Ablecom through consignment or sales transactions. Ablecom uses these materials and components to manufacture the completed chassis and then sell them back to the Company. For the components purchased from the Company, Ablecom sells the components back to the Company at a price equal to the price at which the Company sold the components to Ablecom. The Company and Ablecom frequently review and negotiate the prices of the chassis the Company purchases from Ablecom. In addition to inventory purchases, the Company also incurs other costs associated with design services, tooling and other miscellaneous costs from Ablecom. The Company’s exposure to financial loss as a result of its involvement with Ablecom is limited to potential losses on its purchase orders in the event of an unforeseen decline in the market price and/or demand of the Company’s products such that the Company incurs a loss on the sale or cannot sell the products. Outstanding cancellable and non-cancellable purchase orders from the Company to Ablecom on September 30, 2022 were $37.1 million and $28.7 million, respectively, and outstanding cancellable and non-cancellable purchase orders from the Company to Ablecom on June 30, 2022 were $39.5 million and $36.0 million, respectively, effectively representing the exposure to financial loss. The Company does not directly or indirectly guarantee any obligations of Ablecom, or any losses that the equity holders of Ablecom may suffer. Since Ablecom manufactures substantially all the chassis that the Company incorporates into its products, if Ablecom were to suddenly be unable to manufacture chassis for the Company, the Company’s business could suffer if the Company is unable to quickly qualify substitute suppliers who can supply high-quality chassis to the Company in volume and at acceptable prices. Dealings with Compuware The Company has entered into a distribution agreement with Compuware, under which the Company appointed Compuware as a non-exclusive distributor of the Company’s products in Taiwan, China and Australia. Compuware assumes the responsibility to install the Company's products at the site of the end customer, if required, and administers customer support in exchange for a discount from the Company's standard price for its purchases. The Company also has entered into a series of agreements with Compuware, including multiple product development, production and service agreements, product manufacturing agreements, and lease agreements for office space. Under these agreements, the Company outsources to Compuware a portion of its design activities and a significant part of its power supplies manufacturing as well as an immaterial portion of other components. With respect to design activities, Compuware generally agrees to design certain agreed-upon products according to the Company’s specifications, and further agrees to build the tools needed to manufacture the products. The Company pays Compuware for the design and engineering services, and further agrees to pay Compuware for the tooling. The Company retains full ownership of any intellectual property resulting from the design of these products and tooling. With respect to the manufacturing aspects of the relationship, Compuware purchases most of materials needed to manufacture the power supplies from outside markets and uses these materials to manufacture the products and then sell those products to the Company. The Company and Compuware frequently review and negotiate the prices of the power supplies the Company purchases from Compuware. Compuware also manufactures motherboards, backplanes and other components used on printed circuit boards for the Company. The Company sells to Compuware most of the components needed to manufacture the above products. Compuware uses the components to manufacture the products and then sells the products back to the Company at a purchase price equal to the price at which the Company sold the components to Compuware, plus a “manufacturing value added” fee and other miscellaneous material charges and costs including overhead and labor. The Company and Compuware frequently review and negotiate the amount of the “manufacturing value added” fee that will be included in the price of the products the Company purchases from Compuware. In addition to the inventory purchases, the Company also incurs costs associated with design services, tooling assets, and miscellaneous costs. The Company’s exposure to financial loss as a result of its involvement with Compuware is limited to potential losses on its purchase orders in the event of an unforeseen decline in the market price and/or demand of the Company’s products such that the Company incurs a loss on the sale or cannot sell the products. Outstanding cancellable and non-cancellable purchase orders from the Company to Compuware on September 30, 2022 were $198.9 million and $69.0 million, respectively, and outstanding cancellable and non-cancellable purchase orders from the Company to Compuware on June 30, 2022 were $213.3 million and $44.3 million, respectively, effectively representing the exposure to financial loss. The Company does not directly or indirectly guarantee any obligations of Compuware, or any losses that the equity holders of Compuware may suffer. Dealings with Investment in a Corporate Venture In October 2016, the Company entered into agreements pursuant to which the Company contributed certain technology rights in connection with an investment in a privately-held company (the "Corporate Venture") located in China to expand the Company's presence in China. The Corporate Venture is 30% owned by the Company and 70% owned by another company in China. The transaction was closed in the third fiscal quarter of 2017 and the investment is accounted for using the equity method. As such, the Corporate Venture is also a related party. The Company recorded a deferred gain related to the contribution of certain technology rights. As of September 30, 2022 and June 30, 2022, the Company had no unamortized deferred gain balance in accrued liabilities and none in other long-term liabilities in the Company’s condensed consolidated balance sheets. The Company monitors the investment for events or circumstances indicative of potential impairment and makes appropriate reductions in carrying values if it determines that an impairment charge is required. In June 2020, the third-party parent company that controls the Corporate Venture was placed on a U.S. government export control list, along with several of such third-party parent's related entities and a separate listing for one of its subsidiaries. The Corporate Venture is not itself a restricted party. The Company has concluded that the Corporate Venture is in compliance with the new restrictions. The Company does not believe that the equity investment carrying value is impacted as of September 30, 2022. No impairment charge was recorded for the three months ended September 30, 2022 or 2021. The Company sold products worth $11.6 million and $15.2 million to the Corporate Venture for the three months ended September 30, 2022 and 2021, respectively, and the Company’s share of intra-entity profits on the products that remained unsold by the Corporate Venture as of September 30, 2022 and June 30, 2022 have been eliminated and have reduced the carrying value of the Company’s investment in the Corporate Venture. To the extent that the elimination of intra-entity profits reduces the investment balance below zero, such amounts are recorded within accrued liabilities. The Company had $9.4 million and $8.0 million due from the Corporate Venture in accounts receivable, net as of September 30, 2022 and June 30, 2022, respectively. The Company had the following balances related to transactions with its related parties as of September 30, 2022 and June 30, 2022 (in thousands): Ablecom Compuware Corporate Venture Total September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 Accounts receivable $ 2 $ 2 $ 882 $ 404 $ 9,365 $ 7,992 $ 10,249 $ 8,398 Other receivable (1) $ 3,540 $ 4,816 $ 31,011 $ 19,596 $ — $ — $ 34,551 $ 24,412 Accounts payable $ 43,127 $ 42,463 $ 50,902 $ 44,892 $ — $ — $ 94,029 $ 87,355 Accrued liabilities (2) $ 1,999 $ 3,531 $ 26,262 $ 15,145 $ — $ — $ 28,261 $ 18,676 (1) Other receivables include receivables from vendors included in prepaid and other current assets. (2) Includes current portion of operating lease liabilities included in other current liabilities. The Company's results from transactions with its related parties for each of the three months ended September 30, 2022 and 2021, are as follows (in thousands): Ablecom Compuware Corporate Venture MPS (1) Total Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Net sales $ 2 $ 7 $ 13,760 $ 15,702 $ 11,293 $ 15,213 $ — $ — $ 25,055 $ 30,922 Purchases - inventory $ 47,847 $ 50,788 $ 48,689 $ 35,229 $ — $ — $ — $ 1,670 $ 96,536 $ 87,687 Purchases - other miscellaneous items $ 4,763 $ 2,116 $ 258 $ 339 $ — $ — $ — $ — $ 5,021 $ 2,455 (1) MPS ceased to be a related party in the quarter ended September 30, 2022. The Company’s cash flow impact from transactions with its related parties for each of the three months ended September 30, 2022 and 2021, are as follows (in thousands): Ablecom Compuware Corporate Venture MPS (1) Total Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Changes in accounts receivable $ — $ — $ (478) $ (1,134) $ (1,373) $ (4,181) $ — $ — $ (1,851) $ (5,315) Changes in other receivable $ 1,276 $ 1,147 $ (11,415) $ (3,517) $ — $ — $ — $ (76) $ (10,139) $ (2,446) Changes in accounts payable $ 664 $ 2,578 $ 6,010 $ 5,080 $ — $ — $ — $ — $ 6,674 $ 7,658 Changes in accrued liabilities $ (1,532) $ (1,229) $ 11,117 $ 3,304 $ — $ (500) $ — $ — $ 9,585 $ 1,575 Changes in other long-term liabilities $ — $ — $ (105) $ — $ — $ — $ — $ — $ (105) $ — Purchases of property, plant and equipment $ 583 $ 338 $ 146 $ 62 $ — $ — $ — $ — $ 729 $ 400 Unpaid property, plant and equipment $ 3,782 $ 1,360 $ — $ — $ — $ — $ — $ — $ 3,782 $ 1,360 (1) MPS ceased to be a related party in the quarter ended September 30, 2022. Tripartite Agreement On November 8, 2021, Super Micro Computer Inc., Taiwan (the “Subsidiary”), a Taiwan corporation and wholly-owned subsidiary of the Company, entered into a Tripartite Agreement (the “Agreement”) with Ablecom and Compuware related to a three-way purchase of land. While the Agreement is currently still in effect, Ablecom has advised that its underlying agreements to acquire land from the third-party landowners in proximity to the Company’s campus in Bade, Taiwan have been terminated. |
Stock-based Compensation and St
Stock-based Compensation and Stockholders' Equity | 3 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-based Compensation and Stockholders' Equity | Stock-based Compensation and Stockholders' Equity Equity Incentive Plan On June 5, 2020, the stockholders of the Company approved the 2020 Equity and Incentive Compensation Plan (the "Original 2020 Plan"). The maximum number of shares available under the Original 2020 Plan is 5,000,000 plus 1,045,000 shares of common stock that remained available for future awards under the 2016 Equity Incentive Plan (the “2016 Plan”), at the time of adoption of the Original 2020 Plan. No other awards can be granted under the 2016 Plan and 7,246,000 shares of common stock remain reserved for outstanding awards issued under the Original 2016 Plan at the time of adoption of the Original 2020 Plan. On May 18, 2022, the stockholders of the Company approved an amendment and restatement of the Original 2020 Plan (as amended and restated, the “2020 Plan”) which, among other things, increased the number of shares available for award under the 2020 Plan by an additional 2,000,000 shares. Under the 2020 Plan, the Company can grant stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, dividend equivalents, and certain other awards, including those denominated or payable in, or otherwise based on, the Company’s common stock. The exercise price per share for incentive stock options granted to employees owning shares representing more than 10% of the Company's outstanding voting stock at the time of grant cannot be less than 110% of the fair value of the underlying shares on the grant date. Nonqualified stock options and incentive stock options granted to all other persons are granted at a price not less than 100% of the fair value. Options generally expire ten years after the date of grant. Stock options and RSUs generally vest over four years; 25% at the end of one year and one sixteenth per quarter thereafter. As of September 30, 2022, the Company had 3,095,739 authorized shares available for future issuance under the 2020 Plan. Common Stock Repurchase On August 3, 2022, after the expiration of a prior share repurchase program on July 31, 2022, a duly authorized subcommittee of the Company's Board approved a new share repurchase program to repurchase shares of the Company’s common stock for up to $200 million at prevailing prices in the open market. The share repurchase program is effective until January 31, 2024 or until the maximum amount of common stock is repurchased, whichever occurs first. No shares were repurchased under any share repurchase programs during the three months ended September 30, 2022. Determining Fair Value The Company's fair value of RSUs and PRSUs is based on the closing market price of the Company's common stock on the date of grant. The Company estimates the fair value of stock options granted using the Black-Scholes-option-pricing model. This fair value is then amortized ratably over the requisite service periods of the awards, which is generally the vesting period. The key inputs in using the Black-Scholes-option-pricing model were as follows: Expected Term—The Company’s expected term represents the period that the Company’s stock-based awards are expected to be outstanding and was determined based on the Company's historical experience. Expected Volatility—Expected volatility is based on the Company's implied and historical volatility. Expected Dividend—The Black-Scholes valuation model calls for a single expected dividend yield as an input and the Company has no plans to pay dividends. Risk-Free Interest Rate—The risk-free interest rate used in the Black-Scholes valuation method is based on the United States Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term of option. The fair value of stock option grants for the three months ended September 30, 2022 and 2021 was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Three Months Ended 2022 2021 Risk-free interest rate 2.81% - 4.06% 0.81% Expected term 6.07 years 6.09 years Dividend yield —% —% Volatility 50.62% - 51.30% 49.71% Weighted-average fair value $28.67 $17.94 The following table shows total stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended September 30, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Cost of sales $ 884 $ 447 Research and development 6,118 3,880 Sales and marketing 809 517 General and administrative 3,203 2,171 Stock-based compensation expense before taxes 11,014 7,015 Income tax impact (1,339) (1,888) Stock-based compensation expense, net $ 9,675 $ 5,127 As of September 30, 2022, $14.5 million of unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of 3.20 years and $73.1 million of unrecognized compensation cost related to unvested RSUs is expected to be recognized over a weighted-average period of 2.52 years. Additionally, as described below, $4.3 million of unrecognized compensation cost related to the 2021 CEO Performance Stock Option is expected to be recognized over a period of 2.75 years. Stock Option Activity In March 2021, the Company’s Compensation Committee of the Board of Directors (the “Compensation Committee”) approved the grant of a stock option award for 1,000,000 shares of common stock to the Company’s CEO (the “2021 CEO Performance Stock Option”). The 2021 CEO Performance Stock Option has five vesting tranches with a vesting schedule based entirely on the attainment of operational milestones (performance conditions) and market conditions, assuming (1) continued employment either as the CEO or in such capacity as agreed upon between the Company’s CEO and the Board and (2) service through each vesting date. Each of the five vesting tranches of the 2021 CEO Performance Stock Option will vest upon certification by the Compensation Committee that both (i) the market price milestone for such tranche, which begins at $45.00 per share for the first tranche and increases up to $120.00 per share thereafter (based on a 60 trading day average stock price), has been achieved, and (ii) any one of five operational milestones focused on total revenue, as reported under U.S. GAAP, have been achieved for the previous four consecutive fiscal quarters. Upon vesting and exercise, including the payment of the exercise price of $45.00 per share, prior to March 2, 2024, the Company’s CEO must hold shares that he acquires until March 2, 2024, other than those shares sold pursuant to a cashless exercise where shares are simultaneously sold to pay for the exercise price and any required tax withholding. The achievement status of the operational and stock price milestones as of September 30, 2022 was as follows: Annualized Revenue Milestone Achievement Status Stock Price Milestone Achievement Status (in billions) $4.0 Achieved $45 Achieved (1) $4.8 Achieved $60 Achieved (2) $5.8 Probable $75 Not yet achieved $6.8 Probable $95 Not yet achieved $8.0 Probable $120 Not yet achieved (1) The vesting of the first tranche of 200,000 option shares under the 2021 CEO Performance Stock Option, representing one-fifth of such award, was certified by the Company's Compensation Committee in August 2022. (2) The vesting of the second tranche of 200,000 option shares under the 2021 CEO Performance Stock Option representing one-fifth of such award was certified by the Company's Compensation Committee on October 25, 2022. On the grant date, a Monte Carlo simulation was used to determine for each tranche (i) a fixed expense amount for such tranche and (ii) the future time when the market price milestone for such tranche was expected to be achieved, or its “expected market price milestone achievement time.” Separately, based on a subjective assessment of the Company’s future financial performance, each quarter, the Company will determine whether achievement is probable for each operational milestone that has not previously been achieved or deemed probable of achievement, and, if so, the future time when the Company expects to achieve that operational milestone, or its “expected operational milestone achievement time.” When the Company first determines that an operational milestone has become probable of being achieved, the Company will allocate the entire expense for the related tranche over the number of quarters between the grant date and the then-applicable “expected vesting time.” The “expected vesting time” at any given time is the later of (i) the expected operational milestone achievement time (if the related operational milestone has not yet been achieved) and (ii) the expected market price milestone achievement time (if the related market price milestone has not yet been achieved). The Company will immediately recognize a catch-up expense for all accumulated expenses from the grant date through the quarter in which the operational milestone was first deemed probable of being achieved. Each quarter thereafter, the Company will recognize the prorated portion of the then-remaining expense for the tranche based on the number of quarters between such quarter and the then-applicable expected vesting time, except that upon vesting of a tranche, all remaining expenses for that tranche will be immediately recognized. During the three months ended September 30, 2022 and 2021, the Company recognized compensation expense related to the 2021 CEO Performance Stock Option of $1.3 million and $0.9 million, respectively. As of September 30, 2022 and June 30, 2022, the Company had $4.3 million and $5.6 million, respectively, in unrecognized compensation cost related to the 2021 CEO Performance Stock Option. The unrecognized compensation cost as of September 30, 2022 is expected to be recognized over a period of more than 2.75 years. The following table summarizes stock option activity during the three months ended September 30, 2022 under all plans: Options Weighted Weighted Balance as of June 30, 2022 4,311,416 $ 29.99 Granted 123,750 $ 55.67 Exercised (405,226) $ 20.10 Forfeited/Cancelled (9,238) $ 26.61 Balance as of September 30, 2022 4,020,702 $ 31.79 5.77 Options vested and exercisable at September 30, 2022 2,373,832 $ 24.87 3.78 RSU and PRSU Activity In March 2020, the Compensation Committee granted a PRSU award to one of the Company's senior executives. The award vests in two tranches and includes service and performance conditions. Each tranche has 15,000 RSUs that vest in May 2021 and November 2021 based on service conditions only. Additional units were earned based on revenue growth percentage in fiscal year 2020 compared to fiscal year 2019, which units vested in May 2021, and based on revenue growth percentage in fiscal year 2021 compared to fiscal year 2020, which units vested in November 2021. No additional units were earned for fiscal year 2020 as revenue decreased from fiscal year 2019. An additional 2,939 units were earned for fiscal year 2021 that was vested on November 10, 2021. The following table summarizes RSU and PRSU activity during the three months ended September 30, 2022 under all plans: Time-Based RSUs Weighted Balance as of June 30, 2022 1,879,073 $ 33.72 Granted 446,309 $ 59.84 Released (193,532) $ 29.61 Forfeited (52,535) $ 36.99 Balance as of September 30, 2022 2,079,315 $ 39.63 |
Income Taxes
Income Taxes | 3 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company recorded a provision for income taxes of $38.9 million and $3.3 million for the three months ended September 30, 2022 and 2021, respectively. The effective tax rate was 17.4% and 11.7% for the three months ended September 30, 2022 and 2021, respectively. The effective tax rate for the three months ended September 30, 2022 is higher than that for the three months ended September 30, 2021, primarily due to significant increase in taxable income in the first quarter of fiscal year 2023, whereas the income tax deduction items such as R&D credit and foreign tax deduction comparably did not increase in the same proportion. The Tax Cuts and Jobs Act of 2017 eliminated the option to deduct research and development (“R&D”) expenses in the year incurred and instead requires taxpayers to capitalize R&D expenses, including software development cost, and subsequently amortize such expenses over five years for R&D activities conducted in the United States and over fifteen years for R&D activities conducted outside of the United States beginning in the Company’s fiscal year 2023. Although Congress has considered legislation that would defer, modify, or repeal the capitalization and amortization requirement, there is no assurance the provision will be deferred, repealed, or otherwise modified. As of September 30, 2022, the Company had gross unrecognized tax benefits of $41.7 million, of which, $23.9 million if recognized, would affect the Company's effective tax rate. During the three months ended September 30, 2022, there was a $3.7 million increase in gross unrecognized tax benefits. The Company's policy is to include interest and penalties related to unrecognized tax benefits within the provision for taxes on the condensed consolidated statements of operations. As of September 30, 2022, the Company had accrued $3.2 million of interest and penalties relating to unrecognized tax benefits. The Company believes that it has adequately provided reserves for all uncertain tax positions; however, amounts asserted by tax authorities could be greater or less than the Company’s current position. Accordingly, the Company’s provision on federal, state and foreign tax related matters to be recorded in the future may change as revised estimates are made or as the underlying matters are settled or otherwise resolved. The federal statute of limitations remains open in general for tax years ended June 30, 2019 through 2022. Various states statutes of limitations remain open in general for tax years ended June 30, 2018 through 2022. Certain statutes of limitations in major foreign jurisdictions remain open in general for the tax years ended June 30, 2017 through 2022. It is reasonably possible that the Company's gross unrecognized tax benefits will decrease by approximately $3.0 million, in the next 12 months, due to the lapse of the statute of limitations. These adjustments, if recognized, would positively impact the Company's effective tax rate, and would be recognized as additional tax benefits. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation and Claims— On February 8, 2018, two putative class action complaints were filed against the Company, the Company's Chief Executive Officer, and the Company's former Chief Financial Officer in the U.S. District Court for the Northern District of California (Hessefort v. Super Micro Computer, Inc., et al., No. 18-cv-00838 and United Union of Roofers v. Super Micro Computer, Inc., et al., No. 18-cv-00850). The complaints contain similar allegations, claiming that the defendants violated Section 10(b) of the Securities Exchange Act due to alleged misrepresentations and/or omissions in public statements regarding recognition of revenue. The court subsequently appointed New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund as lead plaintiff. The lead plaintiff then filed an amended complaint naming the Company's Senior Vice President of Investor Relations as an additional defendant. On June 21, 2019, the lead plaintiff filed a further amended complaint naming the Company's former Senior Vice President of International Sales, Corporate Secretary, and Director as an additional defendant. On July 26, 2019, the Company filed a motion to dismiss the complaint. On March 23, 2020, the Court granted the Company’s motion to dismiss the complaint, with leave for lead plaintiff to file an amended complaint within 30 days. On April 22, 2020, lead plaintiff filed a further amended complaint. On June 15, 2020, the Company filed a motion to dismiss the further amended complaint, the hearing for which was calendared for September 23, 2020; however, the Court held a conference on September 15 to discuss how the Court could efficiently address the recent SEC settlement agreement. The parties stipulated to allow plaintiffs to further amend the complaint solely to add allegations relating to the SEC settlement. On October 14, 2020, plaintiffs filed a Fourth Amended Complaint. On October 28, 2020, defendants filed a supplemental motion to dismiss. On March 29, 2021, the Court granted in part and denied in part defendants’ motions to dismiss. Plaintiffs’ claims under Sections 10(b) and 20 of the Exchange Act were dismissed with prejudice as against the Company’s former head of Investor Relations, Perry Hayes. Plaintiffs’ Section 10(b) claim, but not the Section 20 claim, was likewise dismissed as to Wally Liaw, a founder, former director, and former SVP of International Sales. The Court denied the motions to dismiss the Section 10(b) and Section 20 claims against the Company, Charles Liang, and Howard Hideshima, the Company’s former CFO. On March 11, 2022, the Company, together with the individual defendants, agreed in principle with plaintiff’s counsel to settle the action. On April 8, 2022, the parties entered into a stipulation of settlement, pursuant to which and subject to Court approval, plaintiff will dismiss with prejudice and release on behalf of a class of shareholders all claims against defendants, including the Company, in exchange for payment of $18,250,000, of which sum $2,000,000 will be funded by the Company. On May 25, 2022, the Court vacated the hearing on preliminary approval of the proposed settlement scheduled for June 2, 2022, stating that the unopposed motion was suitable for disposition without oral argument. Consequently, the parties expect the Court will grant preliminary approval and calendar a future hearing for final approval. This settlement, if finally approved by the Court, will fully resolve the action. Other legal proceedings and indemnifications From time to time, the Company has been involved in various legal proceedings arising from the normal course of business activities. The resolution of any such matters have not had a material impact on the Company’s consolidated financial condition, results of operations or liquidity as of September 30, 2022 and any prior periods. The Company has entered into indemnification agreements with its current and former directors and executive officers. Under these agreements, the Company has agreed to indemnify such individuals to the fullest extent permitted by law against liabilities that arise by reason of their status as directors or officers and to advance expenses incurred by such individuals in connection with related legal proceedings. It is not possible to determine the maximum potential amount of payments the Company could be required to make under these agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each claim. However, the Company maintains directors and officers liability insurance coverage to reduce its exposure to such obligations. Purchase Commitments — The Company has agreements to purchase inventory and non-inventory items primarily through the next 12 months. As of September 30, 2022, these remaining noncancelable commitments were $512.3 million, including $97.7 million for related parties. Lease Commitments - See Part I, Item 1, Note 7, "Leases," for a discussion of the Company's operating lease and financing lease commitments. |
Segment Reporting
Segment Reporting | 3 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The Company operates in one operating segment that develops and provides high-performance server solutions based upon an innovative, modular and open-standard architecture. The Company’s chief operating decision maker is the Chief Executive Officer. The following is a summary of property, plant and equipment, net (in thousands): September 30, June 30, 2022 2022 Long-lived assets: United States $ 183,428 $ 180,846 Asia 104,482 102,241 Europe 2,842 2,885 $ 290,752 $ 285,972 The Company’s revenue is presented on a disaggregated basis in Part I, Item 1, Note 2, “Revenue,” by type of product and by geographical market. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements included herein reflect all adjustments, including normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the periods presented. The consolidated results of operations for the three months ended September 30, 2022 are not necessarily indicative of the results that may be expected for future quarters or for the fiscal year ending June 30, 2023. |
Concentration of Supplier and Credit Risk | Concentration of Supplier RiskCertain materials used by the Company in the manufacturing of its products are available from a limited number of suppliers.Concentration of Credit RiskFinancial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, investment in an auction rate security and accounts receivable. |
Accounting Pronouncements Recently Adopted and Not Yet Adopted | Accounting Pronouncements Recently Adopted There were no new pronouncements recently adopted. Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued authoritative guidance, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendments in this update do not apply to contract modifications made after December 31, 2022, new hedging relationships entered into after December 31, 2022, and existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that apply certain optional expedients in which the accounting effects are recorded through the end of the hedging relationship. The amendments are effective for all entities through December 31, 2022. In January 2021, the FASB issued further guidance on this topic, which clarified the scope and application of the original guidance. In April 2022, FASB issued a proposed accounting standard update for the deferral of the sunset date of Topic 848 and amendments to the definition of secured overnight financing rate (“SOFR"). The proposed amendment defers the sunset date of Topic 848 to December 31, 2024. The Company has loans and lines of credit with various financial institutions. Benchmark interest rates are used to calculate the interest on borrowings under the Chang Hwa Bank, CTBC, HSBC, Mega Bank Credit Facilities. LIBOR was used to calculate the interest on borrowings under the Company's 2018 Bank of America Credit Facility and E.SUN Credit Facility. The 2018 Bank of America Credit Facility was amended on June 28, 2021 to provide for a new maturity date of June 28, 2026 and fallback terms related to LIBOR replacement mechanics. On March 3, 2022, the 2018 Bank of America Credit Facility was amended to, among other items, increase the size of the facility from $200.0 million to $350.0 million and update provisions relating to payments and LIBOR replacement mechanics to SOFR. As these amendments had other contemporaneous changes to the facility, including the amount of borrowings permitted under the facility and not just directly related to LIBOR replacement, optional expedients under this guidance cannot be elected. The Company is currently evaluating the overall impact of the adoption of this guidance and does not expect it to have material impact on its consolidated financial statements and disclosures. |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following is a summary of net sales by product type (in thousands): Three Months Ended 2022 2021 Server and storage systems $ 1,713,056 $ 849,856 Subsystems and accessories 139,074 182,874 Total $ 1,852,130 $ 1,032,730 Three Months Ended 2022 2021 United States $ 1,295,504 $ 560,948 Asia 270,024 263,086 Europe 235,074 179,694 Other 51,528 29,002 Total $ 1,852,130 $ 1,032,730 |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Income Per Share | The following table shows the computation of basic and diluted net income per common share for the three months ended September 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended 2022 2021 Numerator: Net income $ 184,416 $ 25,437 Denominator: Weighted-average shares outstanding 52,598 50,796 Effect of dilutive securities 2,419 2,120 Weighted-average diluted shares 55,017 52,916 Basic net income per common share $ 3.51 $ 0.50 Diluted net income per common share $ 3.35 $ 0.48 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Balance Sheet Related Disclosures [Abstract] | |
Schedule of Inventories | The following tables provide details of the selected balance sheet items (in thousands): Inventories: September 30, 2022 June 30, 2022 Finished goods $ 1,096,811 $ 1,025,555 Work in process 333,092 209,576 Purchased parts and raw materials 306,152 310,475 Total inventories $ 1,736,055 $ 1,545,606 |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid Expenses and Other Current Assets: September 30, 2022 June 30, 2022 Other receivables (1) $ 150,082 $ 138,054 Prepaid expenses 7,534 5,632 Deferred service costs 6,113 5,562 Prepaid income tax — 2,352 Restricted cash — 251 Others 5,516 6,948 Total prepaid expenses and other current assets $ 169,245 $ 158,799 (1) Other receivables are receivables from contract manufacturers based on certain buy-sell arrangements of $120.3 million |
Schedule of Cash, Cash Equivalents and Restricted Cash | Cash, Cash equivalents and Restricted cash: September 30, 2022 June 30, 2022 Cash and cash equivalents $ 238,268 $ 267,397 Restricted cash included in prepaid expenses and other current assets — 251 Restricted cash included in other assets 478 911 Total cash, cash equivalents and restricted cash $ 238,746 $ 268,559 |
Schedule of Property, Plant, and Equipment | Property, Plant, and Equipment: September 30, 2022 June 30, 2022 Buildings $ 143,496 $ 143,509 Machinery and equipment 119,978 113,665 Land 84,616 84,616 Furniture and fixtures 47,600 43,282 Building and leasehold improvements 45,709 45,169 Software 23,273 23,186 Building construction in progress 303 303 464,975 453,730 Accumulated depreciation and amortization (174,223) (167,758) Property, plant and equipment, net $ 290,752 $ 285,972 |
Schedule of Other Assets | Other Assets: September 30, 2022 June 30, 2022 Operating lease right-of-use asset $ 22,497 $ 23,679 Deferred service costs, non-current 7,518 6,316 Prepaid expense, non-current 1,949 2,011 Investment in auction rate security 1,590 1,590 Deposits 1,215 1,069 Restricted cash, non-current 478 911 Others 1,897 1,956 Total other assets $ 37,144 $ 37,532 |
Schedule of Accrued Liabilities | Accrued Liabilities: September 30, 2022 June 30, 2022 Accrued payroll and related expenses $ 48,779 $ 57,736 Contract manufacturers liabilities 48,579 41,125 Customer deposits 35,099 30,421 Accrued legal liabilities (Note 11) 18,250 18,250 Accrued cooperative marketing expenses 9,722 8,757 Accrued warranty costs 8,540 9,073 Operating lease liability 6,960 7,139 Accrued professional fees 3,130 4,281 Others 34,461 35,637 Total accrued liabilities $ 213,521 $ 212,419 |
Schedule of Other Long-term Liabilities | Other Long-term Liabilities: September 30, 2022 June 30, 2022 Accrued unrecognized tax benefits including related interests and penalties, non-current $ 19,686 $ 18,866 Operating lease liability, non-current 15,218 16,661 Accrued warranty costs, non-current 4,163 3,064 Other 482 549 Total other long-term liabilities $ 39,549 $ 39,140 |
Reconciliation of the Changes in Accrued Warranty Costs | Product Warranties: Three Months Ended 2022 2021 Balance, beginning of the period $ 12,136 $ 12,863 Provision for warranty 8,617 6,386 Costs utilized (8,473) (7,199) Change in estimated liability for pre-existing warranties 423 183 Balance, end of the period 12,703 12,233 Current portion 8,540 9,532 Non-current portion $ 4,163 $ 2,701 |
Fair Value Disclosure (Tables)
Fair Value Disclosure (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Cash Equivalents and Long-Term Investments Measured at Fair value on a Recurring Basis | The following table sets forth the Company’s financial instruments as of September 30, 2022 and June 30, 2022, which are measured at fair value on a recurring basis by level within the fair value hierarchy. These are classified based on the lowest level of input that is significant to the fair value measurement (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Asset at Assets Money market funds (1) $ 20,550 $ — $ — $ 20,550 Certificates of deposit (2) — 553 — 553 Auction rate security — — 1,590 1,590 Total assets measured at fair value $ 20,550 $ 553 $ 1,590 $ 22,693 June 30, 2022 Level 1 Level 2 Level 3 Asset at Assets Money market funds (1) $ 20,220 $ — $ — $ 20,220 Certificates of deposit (2) — 832 — 832 Auction rate security — — 1,590 1,590 Total assets measured at fair value $ 20,220 $ 832 $ 1,590 $ 22,642 (1) $20.4 million and $20.0 million in money market funds are included cash and cash equivalents and $0.2 million and $0.2 million in money market funds are included in restricted cash, non-current in other assets in the condensed consolidated balance sheets as of September 30, 2022 and June 30, 2022, respectively. |
Summary of Long-Term Investments | The following is a summary of the Company’s investment in an auction rate security as of September 30, 2022 and June 30, 2022 (in thousands): Cost Basis Gross Gross Fair Value Auction rate security $ 1,750 $ — $ (160) $ 1,590 |
Short-term and Long-term Debt (
Short-term and Long-term Debt (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term and Long-term Debt Obligations | Short-term and long-term debt obligations as of September 30, 2022 and June 30, 2022 consisted of the following (in thousands): September 30, June 30, 2022 2022 Line of credit: 2018 Bank of America Credit Facility $ 60,284 $ 268,245 2022 Bank of America Credit Facility — 9,500 Cathay Bank Line of Credit — 30,000 2021 CTBC Credit Lines — 84,800 HSBC Bank Credit Facility 11,000 30,000 2021 E.SUN Bank Credit Facility 9,000 7,800 Mega Bank Credit Facility — 3,500 Total line of credit 80,284 433,845 Term loan facilities: Chang Hwa Bank Credit Facility due October 15, 2026 31,487 33,643 CTBC Bank term loan, due June 4, 2030 37,785 40,372 2021 CTBC Credit Lines, due August 15, 2026 5,706 5,468 2021 E.SUN Bank Credit Facility, due September 15, 2026 40,304 43,064 2022 ESUN Bank Credit Facility, due August 15, 2027 16,373 — Mega Bank Credit Facility, due September 15, 2026 37,785 40,372 Total term loans 169,440 162,919 Total debt 249,724 596,764 Short-term debt and current portion of long-term debt 101,173 449,146 Debt, non-current $ 148,551 $ 147,618 Activities under Revolving Lines of Credit and Term Loans Available borrowings and interest rates as of September 30, 2022 and June 30, 2022 consisted of the following (in thousands except for percentages): September 30, 2022 June 30, 2022 Available borrowings Interest rate Available borrowings Interest rate Line of credit: 2018 Bank of America Credit Facility $ 289,716 4.03% $ 81,755 2.53% 2022 Bank of America Credit Facility $ 20,000 3.36% $ 10,500 1.85% Cathay Bank Line of Credit $ 132,000 4.328% $ 102,000 4.004% 2021 CTBC Credit Lines $ 105,000 1.80% - 2.52% $ 20,200 1.80% - 2.52% Chang Hwa Bank Credit Facility $ 20,000 5.14% $ 20,000 3.50% HSBC Bank Credit Facility $ 19,000 3.84% $ — 1.95% - 2.20% 2021 E.SUN Bank Credit Facility $ — 1.81% $ 22,200 1.81% 2022 E.SUN Bank Credit Facility $ 21,000 4.18% $ — — Mega Bank Credit Facility $ 20,000 2.55% $ 16,500 1.85% Term loan facilities: Chang Hwa Bank Credit Facility due October 15, 2026 $ — 1.30% $ — 1.175% CTBC Bank term loan, due June 4, 2030 $ — 0.95% $ — 0.825% 2021 CTBC Credit Lines, due August 15, 2026 $ 5,193 1.15% $ 6,308 1.025% 2021 E.SUN Bank Credit Facility, due September 15, 2026 $ — 1.495% $ 10,766 1.37% 2022 ESUN Bank Credit Facility, due August 15, 2027 $ — 1.495% $ — — Mega Bank Credit Facility, due September 15, 2026 $ — 1.145% - 1.345% $ — 1.02% - 1.22% |
Schedule of Maturities of Short-term and Long-term Debt Obligations | Principal payments on short-term and long-term obligations are due as follows (in thousands): Fiscal Year: Principal Payments Remainder of 2023 $ 94,631 2024 37,660 2025 41,491 2026 41,491 2027 18,025 2028 and thereafter 16,426 Total short-term and long-term debt $ 249,724 The Company is in compliance with all the covenants for the outstanding debt. |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Summary of Operating Lease Expense Recognized and Supplemental Cash Flow Information | Operating lease expense recognized and supplemental cash flow information related to operating leases for the three months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended 2022 2021 Operating lease expense (including expense for lease agreements with related parties of $143 and $246 for the three months ended September 30, 2022 and 2021, respectively) $ 2,110 $ 2,182 Cash payments for operating leases (including payments to related parties of $130 and $279 for the three months ended September 30, 2022 and 2021, respectively) $ 2,038 $ 2,205 New operating lease assets obtained in exchange for operating lease liabilities $ 750 $ 6,119 |
Summary of Future Minimum Lease Payments Under Noncancelable Operating Lease Arrangements | Maturities of operating lease liabilities under noncancelable operating lease arrangements as of September 30, 2022 were as follows (in thousands): Fiscal Year: Maturities of operating leases 2023 $ 5,828 2024 6,664 2025 6,252 2026 2,542 2027 1,563 2028 and beyond 535 Total future lease payments 23,384 Less: Imputed interest (1,206) Present value of operating lease liabilities $ 22,178 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The Company had the following balances related to transactions with its related parties as of September 30, 2022 and June 30, 2022 (in thousands): Ablecom Compuware Corporate Venture Total September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 September 30, 2022 June 30, 2022 Accounts receivable $ 2 $ 2 $ 882 $ 404 $ 9,365 $ 7,992 $ 10,249 $ 8,398 Other receivable (1) $ 3,540 $ 4,816 $ 31,011 $ 19,596 $ — $ — $ 34,551 $ 24,412 Accounts payable $ 43,127 $ 42,463 $ 50,902 $ 44,892 $ — $ — $ 94,029 $ 87,355 Accrued liabilities (2) $ 1,999 $ 3,531 $ 26,262 $ 15,145 $ — $ — $ 28,261 $ 18,676 (1) Other receivables include receivables from vendors included in prepaid and other current assets. (2) Includes current portion of operating lease liabilities included in other current liabilities. The Company's results from transactions with its related parties for each of the three months ended September 30, 2022 and 2021, are as follows (in thousands): Ablecom Compuware Corporate Venture MPS (1) Total Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Net sales $ 2 $ 7 $ 13,760 $ 15,702 $ 11,293 $ 15,213 $ — $ — $ 25,055 $ 30,922 Purchases - inventory $ 47,847 $ 50,788 $ 48,689 $ 35,229 $ — $ — $ — $ 1,670 $ 96,536 $ 87,687 Purchases - other miscellaneous items $ 4,763 $ 2,116 $ 258 $ 339 $ — $ — $ — $ — $ 5,021 $ 2,455 (1) MPS ceased to be a related party in the quarter ended September 30, 2022. The Company’s cash flow impact from transactions with its related parties for each of the three months ended September 30, 2022 and 2021, are as follows (in thousands): Ablecom Compuware Corporate Venture MPS (1) Total Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, Three months ended September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Changes in accounts receivable $ — $ — $ (478) $ (1,134) $ (1,373) $ (4,181) $ — $ — $ (1,851) $ (5,315) Changes in other receivable $ 1,276 $ 1,147 $ (11,415) $ (3,517) $ — $ — $ — $ (76) $ (10,139) $ (2,446) Changes in accounts payable $ 664 $ 2,578 $ 6,010 $ 5,080 $ — $ — $ — $ — $ 6,674 $ 7,658 Changes in accrued liabilities $ (1,532) $ (1,229) $ 11,117 $ 3,304 $ — $ (500) $ — $ — $ 9,585 $ 1,575 Changes in other long-term liabilities $ — $ — $ (105) $ — $ — $ — $ — $ — $ (105) $ — Purchases of property, plant and equipment $ 583 $ 338 $ 146 $ 62 $ — $ — $ — $ — $ 729 $ 400 Unpaid property, plant and equipment $ 3,782 $ 1,360 $ — $ — $ — $ — $ — $ — $ 3,782 $ 1,360 (1) MPS ceased to be a related party in the quarter ended September 30, 2022. |
Stock-based Compensation and _2
Stock-based Compensation and Stockholders' Equity (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Assumptions Used to Estimate Fair Value of Stock Options Granted Using Black-Scholes Option Pricing Model | The fair value of stock option grants for the three months ended September 30, 2022 and 2021 was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Three Months Ended 2022 2021 Risk-free interest rate 2.81% - 4.06% 0.81% Expected term 6.07 years 6.09 years Dividend yield —% —% Volatility 50.62% - 51.30% 49.71% Weighted-average fair value $28.67 $17.94 |
Schedule of Stock-based Compensation Expense | The following table shows total stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended September 30, 2022 and 2021 (in thousands): Three Months Ended 2022 2021 Cost of sales $ 884 $ 447 Research and development 6,118 3,880 Sales and marketing 809 517 General and administrative 3,203 2,171 Stock-based compensation expense before taxes 11,014 7,015 Income tax impact (1,339) (1,888) Stock-based compensation expense, net $ 9,675 $ 5,127 |
Summary Of Operational And Stock Price Milestones | The achievement status of the operational and stock price milestones as of September 30, 2022 was as follows: Annualized Revenue Milestone Achievement Status Stock Price Milestone Achievement Status (in billions) $4.0 Achieved $45 Achieved (1) $4.8 Achieved $60 Achieved (2) $5.8 Probable $75 Not yet achieved $6.8 Probable $95 Not yet achieved $8.0 Probable $120 Not yet achieved (1) The vesting of the first tranche of 200,000 option shares under the 2021 CEO Performance Stock Option, representing one-fifth of such award, was certified by the Company's Compensation Committee in August 2022. (2) The vesting of the second tranche of 200,000 option shares under the 2021 CEO Performance Stock Option representing one-fifth of such award was certified by the Company's Compensation Committee on October 25, 2022. |
Summary of Stock Option Activity | The following table summarizes stock option activity during the three months ended September 30, 2022 under all plans: Options Weighted Weighted Balance as of June 30, 2022 4,311,416 $ 29.99 Granted 123,750 $ 55.67 Exercised (405,226) $ 20.10 Forfeited/Cancelled (9,238) $ 26.61 Balance as of September 30, 2022 4,020,702 $ 31.79 5.77 Options vested and exercisable at September 30, 2022 2,373,832 $ 24.87 3.78 |
Summary of Restricted Stock Unit Activity | The following table summarizes RSU and PRSU activity during the three months ended September 30, 2022 under all plans: Time-Based RSUs Weighted Balance as of June 30, 2022 1,879,073 $ 33.72 Granted 446,309 $ 59.84 Released (193,532) $ 29.61 Forfeited (52,535) $ 36.99 Balance as of September 30, 2022 2,079,315 $ 39.63 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Summary of Property, Plant and Equipment | The following is a summary of property, plant and equipment, net (in thousands): September 30, June 30, 2022 2022 Long-lived assets: United States $ 183,428 $ 180,846 Asia 104,482 102,241 Europe 2,842 2,885 $ 290,752 $ 285,972 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Mar. 03, 2022 | Mar. 02, 2022 | |
Revolving Credit Facility | 2018 Bank of America Credit Facility | 2018 Bank of America Credit Facility | Line of Credit | |||||
Concentration Risk [Line Items] | |||||
Credit facility, maximum borrowing capacity | $ 350 | $ 200 | |||
Supplier concentration risk | Purchases, Total | Two Suppliers | Supplier One | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 16.10% | 20.10% | |||
Supplier concentration risk | Purchases, Total | Two Suppliers | Supplier Two | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 25.70% | 6.30% | |||
Supplier concentration risk | Purchases | Ablecom And Compuware | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 6.40% | 9.60% | |||
Customer concentration risk | Revenue Benchmark | One Customer | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 21.90% | ||||
Customer concentration risk | Accounts receivable | Customer One | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 11% | ||||
Customer concentration risk | Accounts receivable | Customer Two | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 10.30% | ||||
Customer concentration risk | Accounts receivable | One Customer | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 21.70% |
Revenue - Summary of Net Sales
Revenue - Summary of Net Sales by Product Type (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 1,852,130 | $ 1,032,730 |
Server and storage systems | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 1,713,056 | 849,856 |
Subsystems and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 139,074 | $ 182,874 |
Revenue - Summary of Net Sale_2
Revenue - Summary of Net Sales by Location (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 1,852,130 | $ 1,032,730 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 1,295,504 | 560,948 |
Asia | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 270,024 | 263,086 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 235,074 | 179,694 |
Other | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 51,528 | $ 29,002 |
Revenue - Contract Balances Nar
Revenue - Contract Balances Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | ||
Description of payment terms | Generally, the payment terms of the Company’s offerings range from 30 to 60 days. | |
Deferred revenue | $ 233.8 | |
Contract with customer liability, revenue recognized in the period | $ 33.5 | |
Increase in deferred revenue | $ 86 | |
Increase in deferred revenue due to non-cancellable non-refundable advance or cash consideration from customers | $ 69.6 |
Revenue - Performance Obligatio
Revenue - Performance Obligation (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Revenue from Contract with Customer [Abstract] | |
Remaining revenue performance obligation, amount | $ 319.8 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining revenue performance obligation, percent to be recognized | 58% |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, expected timing of satisfaction, period |
Net Income Per Common Share (De
Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Numerator: | ||
Net income - basic | $ 184,416 | $ 25,437 |
Net income - diluted | $ 184,416 | $ 25,437 |
Denominator: | ||
Weighted-average shares outstanding (in shares) | 52,598,000 | 50,796,000 |
Effect of dilutive securities (in shares) | 2,419,000 | 2,120,000 |
Weighted-average diluted shares (in shares) | 55,017,000 | 52,916,000 |
Basic net income per common share (in dollars per share) | $ 3.51 | $ 0.50 |
Diluted net income per common share (in dollars per share) | $ 3.35 | $ 0.48 |
Employee stock options and restricted stock units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive outstanding equity awards (in shares) | 307,395,000 | 694,211,000 |
Balance Sheet Components - Inve
Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Inventory, Net [Abstract] | |||
Finished goods | $ 1,096,811 | $ 1,025,555 | |
Work in process | 333,092 | 209,576 | |
Purchased parts and raw materials | 306,152 | 310,475 | |
Total inventories | 1,736,055 | $ 1,545,606 | |
Provision for excess and obsolete inventory | $ 9,600 | $ 3,500 |
Balance Sheet Components - Prep
Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Prepaid Expense and Other Current Assets [Abstract] | ||
Other receivables | $ 150,082 | $ 138,054 |
Prepaid expenses | 7,534 | 5,632 |
Deferred service costs | 6,113 | 5,562 |
Prepaid income tax | 0 | 2,352 |
Restricted cash | 0 | 251 |
Others | 5,516 | 6,948 |
Total prepaid expenses and other current assets | 169,245 | 158,799 |
Receivables from contract manufacturers, buy-sell arrangement | $ 120,300 | $ 98,900 |
Balance Sheet Components - Cash
Balance Sheet Components - Cash, Cash Equivalents, Restricted Cash (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 |
Balance Sheet Related Disclosures [Abstract] | ||||
Cash and cash equivalents | $ 238,268 | $ 267,397 | ||
Restricted cash included in prepaid expenses and other current assets | 0 | 251 | ||
Restricted cash included in other assets | 478 | 911 | ||
Total cash, cash equivalents and restricted cash | $ 238,746 | $ 268,559 | $ 271,227 | $ 233,449 |
Balance Sheet Components - Prop
Balance Sheet Components - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 464,975 | $ 453,730 |
Accumulated depreciation and amortization | (174,223) | (167,758) |
Property, plant and equipment, net | 290,752 | 285,972 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 143,496 | 143,509 |
Machinery and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 119,978 | 113,665 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 84,616 | 84,616 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 47,600 | 43,282 |
Building and leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 45,709 | 45,169 |
Software | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 23,273 | 23,186 |
Building construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 303 | $ 303 |
Balance Sheet Components - Othe
Balance Sheet Components - Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Other Assets [Abstract] | ||
Operating lease right-of-use asset | $ 22,497 | $ 23,679 |
Deferred service costs, non-current | 7,518 | 6,316 |
Prepaid expense, non-current | 1,949 | 2,011 |
Investment in auction rate security | 1,590 | 1,590 |
Deposits | 1,215 | 1,069 |
Restricted cash, non-current | 478 | 911 |
Others | 1,897 | 1,956 |
Total other assets | $ 37,144 | $ 37,532 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 |
Accrued Liabilities [Abstract] | |||
Accrued payroll and related expenses | $ 48,779 | $ 57,736 | |
Contract manufacturers liabilities | 48,579 | 41,125 | |
Customer deposits | 35,099 | 30,421 | |
Accrued legal liabilities | 18,250 | 18,250 | |
Accrued cooperative marketing expenses | 9,722 | 8,757 | |
Accrued warranty costs | 8,540 | 9,073 | $ 9,532 |
Operating lease liability | 6,960 | 7,139 | |
Accrued professional fees | 3,130 | 4,281 | |
Others | 34,461 | 35,637 | |
Total accrued liabilities | $ 213,521 | $ 212,419 |
Balance Sheet Components - Perf
Balance Sheet Components - Performance Awards Liability (Details) | 1 Months Ended | 3 Months Ended | |||
Sep. 30, 2021 USD ($) | Mar. 31, 2020 USD ($) tranche | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Performance bonus, liability tranche two | $ 4,000,000 | ||||
Performance bonus, liability tranche one | $ 2,000,000 | $ 2,000,000 | $ 3,600,000 | ||
Reduced payment for performance bonus, tranche one | $ 2,000,000 | ||||
Benefit from adjustment | 1,600,000 | ||||
Bonus compensation expense | $ 0 | $ 1,600,000 | |||
Chief Executive Officer | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Performance bonuses approved | $ 8,100,000 | ||||
Performance bonus, number of tranches | tranche | 2 |
Balance Sheet Components - Ot_2
Balance Sheet Components - Other Long-Term Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 |
Other Long-term Liabilities [Abstract] | |||
Accrued unrecognized tax benefits including related interests and penalties, non-current | $ 19,686 | $ 18,866 | |
Operating lease liability, non-current | 15,218 | 16,661 | |
Accrued warranty costs, non-current | 4,163 | 3,064 | $ 2,701 |
Other | 482 | 549 | |
Total other long-term liabilities | $ 39,549 | $ 39,140 |
Balance Sheet Components - Prod
Balance Sheet Components - Product Warranties (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Product Warranties: | |||
Balance, beginning of the period | $ 12,136 | $ 12,863 | |
Provision for warranty | 8,617 | 6,386 | |
Costs utilized | (8,473) | (7,199) | |
Change in estimated liability for pre-existing warranties | 423 | 183 | |
Balance, end of the period | 12,703 | 12,233 | |
Current portion | 8,540 | 9,532 | $ 9,073 |
Non-current portion | $ 4,163 | $ 2,701 | $ 3,064 |
Fair Value Disclosure - Cash Eq
Fair Value Disclosure - Cash Equivalents and Long-term Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Auction rate security | ||
Asset at Fair Value | ||
Auction rate security | $ 1,590 | $ 1,590 |
Fair Value, Measurements, Recurring | ||
Asset at Fair Value | ||
Total assets measured at fair value | 22,693 | 22,642 |
Fair Value, Measurements, Recurring | Auction rate security | ||
Asset at Fair Value | ||
Auction rate security | 1,590 | 1,590 |
Fair Value, Measurements, Recurring | Level 1 | ||
Asset at Fair Value | ||
Total assets measured at fair value | 20,550 | 20,220 |
Fair Value, Measurements, Recurring | Level 1 | Auction rate security | ||
Asset at Fair Value | ||
Auction rate security | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ||
Asset at Fair Value | ||
Total assets measured at fair value | 553 | 832 |
Fair Value, Measurements, Recurring | Level 2 | Auction rate security | ||
Asset at Fair Value | ||
Auction rate security | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | ||
Asset at Fair Value | ||
Total assets measured at fair value | 1,590 | 1,590 |
Fair Value, Measurements, Recurring | Level 3 | Auction rate security | ||
Asset at Fair Value | ||
Auction rate security | 1,590 | 1,590 |
Money Market Funds | ||
Asset at Fair Value | ||
Cash and cash equivalents | 20,400 | 20,000 |
Money Market Funds | Fair Value, Measurements, Recurring | ||
Asset at Fair Value | ||
Cash and cash equivalents | 20,550 | 20,220 |
Money Market Funds | Fair Value, Measurements, Recurring | Level 1 | ||
Asset at Fair Value | ||
Cash and cash equivalents | 20,550 | 20,220 |
Money Market Funds | Fair Value, Measurements, Recurring | Level 2 | ||
Asset at Fair Value | ||
Cash and cash equivalents | 0 | 0 |
Money Market Funds | Fair Value, Measurements, Recurring | Level 3 | ||
Asset at Fair Value | ||
Cash and cash equivalents | 0 | 0 |
Certificates of Deposit | ||
Asset at Fair Value | ||
Cash and cash equivalents | 200 | 200 |
Prepaid expense and other assets | 100 | 300 |
Certificates of Deposit | Fair Value, Measurements, Recurring | ||
Asset at Fair Value | ||
Cash and cash equivalents | 553 | 832 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 1 | ||
Asset at Fair Value | ||
Cash and cash equivalents | 0 | 0 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 2 | ||
Asset at Fair Value | ||
Cash and cash equivalents | 553 | 832 |
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 3 | ||
Asset at Fair Value | ||
Cash and cash equivalents | $ 0 | $ 0 |
Fair Value Disclosure - Long-Te
Fair Value Disclosure - Long-Term Investments (Details) - Auction rate security - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Cost Basis | $ 1,750 | $ 1,750 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | (160) | (160) |
Fair Value | $ 1,590 | $ 1,590 |
Fair Value Disclosure - Narrati
Fair Value Disclosure - Narrative (Details) - USD ($) | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity securities without readily determinable fair value, amount | $ 1,200,000 | $ 1,200,000 | |
Equity securities without readily determinable fair value, impairment loss, annual amount | 0 | $ 0 | |
Auction rate security | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gain (loss) on auction rate security | 0 | $ 0 | |
Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value of debt outstanding | $ 249,700,000 | $ 596,800,000 |
Short-term and Long-term Debt -
Short-term and Long-term Debt - Schedule of Short-term and Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Short-term Debt [Line Items] | ||
Short-term debt | $ 101,173 | $ 449,146 |
Long-term debt | 148,551 | 147,618 |
Total debt | 249,724 | 596,764 |
Short-term debt and current portion of long-term debt | 449,146 | |
Debt, non-current | 147,618 | |
Revolving Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | 80,284 | 433,845 |
Revolving Credit Facility | 2018 Bank of America Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | 60,284 | 268,245 |
Credit facility, remaining borrowing capacity | $ 289,716 | $ 81,755 |
Interest rate (as a percent) | 4.03% | 2.53% |
Revolving Credit Facility | 2022 Bank of America Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 0 | $ 9,500 |
Credit facility, remaining borrowing capacity | $ 20,000 | $ 10,500 |
Interest rate (as a percent) | 3.36% | 1.85% |
Revolving Credit Facility | Cathay Bank Line of Credit | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 0 | $ 30,000 |
Credit facility, remaining borrowing capacity | $ 132,000 | $ 102,000 |
Interest rate (as a percent) | 4.328% | 4.004% |
Revolving Credit Facility | 2021 CTBC Credit Lines | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 0 | $ 84,800 |
Credit facility, remaining borrowing capacity | $ 105,000 | $ 20,200 |
Revolving Credit Facility | 2021 CTBC Credit Lines | Line of Credit | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.80% | 1.80% |
Revolving Credit Facility | 2021 CTBC Credit Lines | Line of Credit | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 2.52% | 2.52% |
Revolving Credit Facility | Chang Hwa Bank Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 20,000 | $ 20,000 |
Interest rate (as a percent) | 5.14% | 3.50% |
Revolving Credit Facility | HSBC Bank Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 11,000 | $ 30,000 |
Credit facility, remaining borrowing capacity | $ 19,000 | $ 0 |
Interest rate (as a percent) | 3.84% | |
Revolving Credit Facility | HSBC Bank Credit Facility | Line of Credit | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.95% | |
Revolving Credit Facility | HSBC Bank Credit Facility | Line of Credit | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 2.20% | |
Revolving Credit Facility | 2021 E.SUN Bank Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 9,000 | $ 7,800 |
Credit facility, remaining borrowing capacity | $ 0 | $ 22,200 |
Interest rate (as a percent) | 1.81% | 1.81% |
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 21,000 | $ 0 |
Interest rate (as a percent) | 4.18% | 0% |
Revolving Credit Facility | Mega Bank Credit Facility | Line of Credit | ||
Short-term Debt [Line Items] | ||
Short-term debt | $ 0 | $ 3,500 |
Credit facility, remaining borrowing capacity | $ 20,000 | $ 16,500 |
Interest rate (as a percent) | 2.55% | 1.85% |
Secured debt | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | $ 169,440 | $ 162,919 |
Secured debt | 2021 E.SUN Bank Credit Facility | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | 40,304 | 43,064 |
Credit facility, remaining borrowing capacity | $ 0 | $ 10,766 |
Interest rate (as a percent) | 1.495% | 1.37% |
Secured debt | Mega Bank Credit Facility | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | $ 37,785 | $ 40,372 |
Secured debt | Chang Hwa Bank Credit Facility due October 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | 31,487 | 33,643 |
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 1.30% | 1.175% |
Secured debt | CTBC Bank term loan, due June 4, 2030 | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | $ 37,785 | $ 40,372 |
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 0.95% | 0.825% |
Secured debt | 2021 CTBC Credit Lines, due August 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | $ 5,706 | $ 5,468 |
Credit facility, remaining borrowing capacity | $ 5,193 | $ 6,308 |
Interest rate (as a percent) | 1.15% | 1.025% |
Secured debt | 2022 ESUN Bank Credit Facility, due August 15, 2027 | Term loan | ||
Short-term Debt [Line Items] | ||
Long-term debt | $ 16,373 | $ 0 |
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 1.495% | 0% |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.145% | 1.02% |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.345% | 1.22% |
Short-term and Long-term Debt_2
Short-term and Long-term Debt - Activities Under Short-term and Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Secured debt | 2021 E.SUN Bank Credit Facility | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 10,766 |
Interest rate (as a percent) | 1.495% | 1.37% |
Secured debt | Chang Hwa Bank Credit Facility due October 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 1.30% | 1.175% |
Secured debt | CTBC Bank term loan, due June 4, 2030 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 0.95% | 0.825% |
Secured debt | 2021 CTBC Credit Lines, due August 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 5,193 | $ 6,308 |
Interest rate (as a percent) | 1.15% | 1.025% |
Secured debt | 2022 ESUN Bank Credit Facility, due August 15, 2027 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Interest rate (as a percent) | 1.495% | 0% |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 0 |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.145% | 1.02% |
Secured debt | Mega Bank Credit Facility, due September 15, 2026 | Term loan | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.345% | 1.22% |
Line of Credit | Revolving Credit Facility | 2018 Bank of America Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 289,716 | $ 81,755 |
Interest rate (as a percent) | 4.03% | 2.53% |
Line of Credit | Revolving Credit Facility | 2022 Bank of America Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 20,000 | $ 10,500 |
Interest rate (as a percent) | 3.36% | 1.85% |
Line of Credit | Revolving Credit Facility | Cathay Bank Line of Credit | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 132,000 | $ 102,000 |
Interest rate (as a percent) | 4.328% | 4.004% |
Line of Credit | Revolving Credit Facility | 2021 CTBC Credit Lines | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 105,000 | $ 20,200 |
Line of Credit | Revolving Credit Facility | 2021 CTBC Credit Lines | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.80% | 1.80% |
Line of Credit | Revolving Credit Facility | 2021 CTBC Credit Lines | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 2.52% | 2.52% |
Line of Credit | Revolving Credit Facility | Chang Hwa Bank Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 20,000 | $ 20,000 |
Interest rate (as a percent) | 5.14% | 3.50% |
Line of Credit | Revolving Credit Facility | HSBC Bank Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 19,000 | $ 0 |
Interest rate (as a percent) | 3.84% | |
Line of Credit | Revolving Credit Facility | HSBC Bank Credit Facility | Minimum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 1.95% | |
Line of Credit | Revolving Credit Facility | HSBC Bank Credit Facility | Maximum | ||
Short-term Debt [Line Items] | ||
Interest rate (as a percent) | 2.20% | |
Line of Credit | Revolving Credit Facility | 2021 E.SUN Bank Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 0 | $ 22,200 |
Interest rate (as a percent) | 1.81% | 1.81% |
Line of Credit | Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 21,000 | $ 0 |
Interest rate (as a percent) | 4.18% | 0% |
Line of Credit | Revolving Credit Facility | Mega Bank Credit Facility | ||
Short-term Debt [Line Items] | ||
Credit facility, remaining borrowing capacity | $ 20,000 | $ 16,500 |
Interest rate (as a percent) | 2.55% | 1.85% |
Short-term and Long-term Debt_3
Short-term and Long-term Debt - E.SUN Bank Credit Facility Narrative (Details) | Aug. 09, 2022 USD ($) | Sep. 30, 2022 USD ($) | Aug. 09, 2022 TWD ($) | Jun. 30, 2022 USD ($) |
Short-term Debt [Line Items] | ||||
Short-term debt | $ 101,173,000 | $ 449,146,000 | ||
Long-term debt | $ 148,551,000 | $ 147,618,000 | ||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | E.SUN Bank | ||||
Short-term Debt [Line Items] | ||||
Interest rate (as a percent) | 4.18% | 1.81% | ||
Long-term debt | $ 9,000,000 | |||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | E.SUN Bank | Medium Term Loan | ||||
Short-term Debt [Line Items] | ||||
Credit facility, maximum borrowing capacity | $ 23,000,000 | $ 680,000,000 | ||
Credit facility, term | 5 years | |||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | E.SUN Bank | Draw Down Instruments | ||||
Short-term Debt [Line Items] | ||||
Credit facility, maximum borrowing capacity | $ 30,000,000 | |||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | Line of Credit | E.SUN Bank | ||||
Short-term Debt [Line Items] | ||||
Credit facility, maximum borrowing capacity | $ 61,000,000 | $ 1,800,000,000 | ||
Credit facility, term | 120 days | |||
Drawdowns percentage (as a percent) | 80% | |||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | Draw Down Instruments | E.SUN Bank | ||||
Short-term Debt [Line Items] | ||||
Credit facility, maximum borrowing capacity | $ 30,000,000 | |||
Revolving Credit Facility | 2022 E.SUN Bank Credit Facility | Import Loan | E.SUN Bank | ||||
Short-term Debt [Line Items] | ||||
Interest rate (as a percent) | 1.495% | |||
Long-term debt | $ 16,400,000 | $ 7,800,000 | ||
Credit facility, remaining borrowing capacity | $ 21,000,000 |
Short-term and Long-term Debt_4
Short-term and Long-term Debt - Maturities of Short-term and Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Debt Disclosure [Abstract] | ||
Remainder of 2023 | $ 94,631 | |
2024 | 37,660 | |
2025 | 41,491 | |
2026 | 41,491 | |
2027 | 18,025 | |
2028 and thereafter | 16,426 | |
Total debt | $ 249,724 | $ 596,764 |
Leases - Summary of Lease Costs
Leases - Summary of Lease Costs and Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Related Party Transaction [Line Items] | ||
Operating lease expense (including expense for lease agreements with related parties of $143 and $246 for the three months ended September 30, 2022 and 2021, respectively) | $ 2,110 | $ 2,182 |
Cash payments for operating leases (including payments to related parties of $130 and $279 for the three months ended September 30, 2022 and 2021, respectively) | 2,038 | 2,205 |
New operating lease assets obtained in exchange for operating lease liabilities | 750 | 6,119 |
Affiliated | ||
Related Party Transaction [Line Items] | ||
Operating lease expense (including expense for lease agreements with related parties of $143 and $246 for the three months ended September 30, 2022 and 2021, respectively) | 143 | 246 |
Cash payments for operating leases (including payments to related parties of $130 and $279 for the three months ended September 30, 2022 and 2021, respectively) | $ 130 | $ 279 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||
Variable lease payments | $ 0 | $ 0 |
Operating lease, weighted average remaining lease term | 3 years 7 months 6 days | |
Incremental borrowing rate | 3% |
Leases - Future Minimum Operati
Leases - Future Minimum Operating Liability Payments (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Leases [Abstract] | |
2023 | $ 5,828 |
2024 | 6,664 |
2025 | 6,252 |
2026 | 2,542 |
2027 | 1,563 |
2028 and beyond | 535 |
Total future lease payments | 23,384 |
Less: Imputed interest | (1,206) |
Present value of operating lease liabilities | $ 22,178 |
Related Party Transactions - Na
Related Party Transactions - Narrative (Details) - USD ($) | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 512,300,000 | ||
Cost of sales | 1,504,595,000 | $ 894,591,000 | |
Corporate Venture | |||
Related Party Transaction [Line Items] | |||
Cost of sales | $ 11,600,000 | 15,200,000 | |
Corporate Venture | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 30% | ||
Impairment on investments | $ 0 | $ 0 | |
Accounts receivable | 9,400,000 | $ 8,000,000 | |
Corporate Venture | Accrued Liabilities | |||
Related Party Transaction [Line Items] | |||
Equity method investment, unamortized deferred gain from sale | 0 | 0 | |
Corporate Venture | Other Long Term Liabilities | |||
Related Party Transaction [Line Items] | |||
Equity method investment, unamortized deferred gain from sale | 0 | 0 | |
Affiliated | |||
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 97,700,000 | ||
Investor in China | Corporate Venture | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 70% | ||
Ablecom | |||
Related Party Transaction [Line Items] | |||
Related party, product sold percent | 88.40% | 92.50% | |
Ablecom | Affiliated | Cancellable Purchase Obligation | |||
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 37,100,000 | 39,500,000 | |
Ablecom | Affiliated | No-Cancellable Purchase Obligation | |||
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 28,700,000 | 36,000,000 | |
Ablecom | Steve Liang and other family members | Management and immediate family member of management | |||
Related Party Transaction [Line Items] | |||
Ownership percentage (as a percent) | 28.80% | ||
Ablecom | Charles Liang and wife | Investee | |||
Related Party Transaction [Line Items] | |||
Ownership percentage (as a percent) | 10.50% | ||
Compuware | Affiliated | Cancellable Purchase Obligation | |||
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 198,900,000 | 213,300,000 | |
Compuware | Affiliated | No-Cancellable Purchase Obligation | |||
Related Party Transaction [Line Items] | |||
Outstanding purchase order | $ 69,000,000 | $ 44,300,000 |
Related Party Transactions - Tr
Related Party Transactions - Transactions (Details) - Affiliated - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Related Party Transaction [Line Items] | |||
Accounts receivable | $ 10,249 | $ 8,398 | |
Other receivable | 34,551 | 24,412 | |
Accounts payable | 94,029 | 87,355 | |
Accrued liabilities | 28,261 | 18,676 | |
Net sales | 25,055 | $ 30,922 | |
Purchases - inventory | 96,536 | 87,687 | |
Purchases - other miscellaneous items | 5,021 | 2,455 | |
Changes in accounts receivable | (1,851) | (5,315) | |
Changes in other receivable | (10,139) | (2,446) | |
Changes in accounts payable | 6,674 | 7,658 | |
Changes in accrued liabilities | 9,585 | 1,575 | |
Changes in other long-term liabilities | (105) | 0 | |
Purchases of property, plant and equipment | 729 | 400 | |
Unpaid property, plant and equipment | 3,782 | 1,360 | |
Ablecom | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 2 | 2 | |
Other receivable | 3,540 | 4,816 | |
Accounts payable | 43,127 | 42,463 | |
Accrued liabilities | 1,999 | 3,531 | |
Net sales | 2 | 7 | |
Purchases - inventory | 47,847 | 50,788 | |
Purchases - other miscellaneous items | 4,763 | 2,116 | |
Changes in accounts receivable | 0 | 0 | |
Changes in other receivable | 1,276 | 1,147 | |
Changes in accounts payable | 664 | 2,578 | |
Changes in accrued liabilities | (1,532) | (1,229) | |
Changes in other long-term liabilities | 0 | 0 | |
Purchases of property, plant and equipment | 583 | 338 | |
Unpaid property, plant and equipment | 3,782 | 1,360 | |
Compuware | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 882 | 404 | |
Other receivable | 31,011 | 19,596 | |
Accounts payable | 50,902 | 44,892 | |
Accrued liabilities | 26,262 | 15,145 | |
Net sales | 13,760 | 15,702 | |
Purchases - inventory | 48,689 | 35,229 | |
Purchases - other miscellaneous items | 258 | 339 | |
Changes in accounts receivable | (478) | (1,134) | |
Changes in other receivable | (11,415) | (3,517) | |
Changes in accounts payable | 6,010 | 5,080 | |
Changes in accrued liabilities | 11,117 | 3,304 | |
Changes in other long-term liabilities | (105) | 0 | |
Purchases of property, plant and equipment | 146 | 62 | |
Unpaid property, plant and equipment | 0 | 0 | |
Corporate Venture | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 9,365 | 7,992 | |
Other receivable | 0 | 0 | |
Accounts payable | 0 | 0 | |
Accrued liabilities | 0 | $ 0 | |
Net sales | 11,293 | 15,213 | |
Purchases - inventory | 0 | 0 | |
Purchases - other miscellaneous items | 0 | 0 | |
Changes in accounts receivable | (1,373) | (4,181) | |
Changes in other receivable | 0 | 0 | |
Changes in accounts payable | 0 | 0 | |
Changes in accrued liabilities | 0 | (500) | |
Changes in other long-term liabilities | 0 | 0 | |
Purchases of property, plant and equipment | 0 | 0 | |
Unpaid property, plant and equipment | 0 | 0 | |
MPS (3) | |||
Related Party Transaction [Line Items] | |||
Net sales | 0 | 0 | |
Purchases - inventory | 0 | 1,670 | |
Purchases - other miscellaneous items | 0 | 0 | |
Changes in accounts receivable | 0 | 0 | |
Changes in other receivable | 0 | (76) | |
Changes in accounts payable | 0 | 0 | |
Changes in accrued liabilities | 0 | 0 | |
Changes in other long-term liabilities | 0 | 0 | |
Purchases of property, plant and equipment | 0 | 0 | |
Unpaid property, plant and equipment | $ 0 | $ 0 |
Stock-based Compensation and _3
Stock-based Compensation and Stockholders' Equity - Equity Incentive Plan Narrative (Details) - shares | 3 Months Ended | |||
May 18, 2022 | Jun. 05, 2020 | Sep. 30, 2022 | Jun. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares reserved for outstanding awards (in shares) | 4,020,702 | 4,311,416 | ||
Equity Incentive Plan, 2020 | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of awards authorized (in shares) | 5,000,000 | |||
Shares reserved for future issuance (in shares) | 1,045,000 | |||
Authorized shares available for future issuance (in shares) | 3,095,739 | |||
Additional shares authorized (in shares) | 2,000,000 | |||
Ownership percentage threshold for employee owned incentive stock options to qualify for exercise price per share | 10% | |||
Equity Incentive Plan, 2020 | Year one | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option and restricted stock units vesting rights, percentage | 25% | |||
Equity Incentive Plan, 2020 | Employee stock option | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option expected life (in years) | 10 years | |||
Equity Incentive Plan, 2020 | Employee stock options and restricted stock units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 4 years | |||
Equity Incentive Plan, 2016 | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Authorized shares available for future issuance (in shares) | 0 | |||
Shares reserved for outstanding awards (in shares) | 7,246,000 | |||
Equity Incentive Plan, Two Thousand Twenty, More Than Ten Percent Ownership | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of fair market value | 110% | |||
Equity Incentive Plan, Two Thousand Twenty, Less Than Ten Percent Ownership | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of fair market value | 100% |
Stock-based Compensation and _4
Stock-based Compensation and Stockholders' Equity - Common Stock Repurchase Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Sep. 30, 2022 | Aug. 03, 2022 | |
Share-Based Payment Arrangement [Abstract] | ||
Stock repurchase program, authorized amount | $ 200 | |
Stock repurchased (in shares) | 0 |
Stock-based Compensation and _5
Stock-based Compensation and Stockholders' Equity - Summary of Stock Option Valuation Assumptions (Details) - Employee stock option - $ / shares | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate, minimum | 2.81% | |
Risk-free interest rate, maximum | 4.06% | |
Risk-free interest rate | 0.81% | |
Expected term | 6 years 25 days | 6 years 1 month 2 days |
Dividend yield | 0% | 0% |
Volatility, minimum | 50.62% | |
Volatility, maximum | 51.30% | |
Volatility | 49.71% | |
Weighted average fair value (in dollars per share) | $ 28.67 | $ 17.94 |
Stock-based Compensation and _6
Stock-based Compensation and Stockholders' Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense before taxes | $ 11,014 | $ 7,015 |
Income tax impact | (1,339) | (1,888) |
Stock-based compensation expense, net | 9,675 | 5,127 |
Cost of sales | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense before taxes | 884 | 447 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense before taxes | 6,118 | 3,880 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense before taxes | 809 | 517 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense before taxes | $ 3,203 | $ 2,171 |
Stock-based Compensation and _7
Stock-based Compensation and Stockholders' Equity - Determining Fair Value Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Sep. 30, 2022 | Jun. 30, 2022 | |
Employee stock option | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation cost related to non-vested stock-based awards | $ 14.5 | |
Unrecognized compensation cost related to non-vested stock based awards, period for recognition (in years) | 3 years 2 months 12 days | |
Restricted stock units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation cost related to non-vested stock-based awards | $ 73.1 | |
Unrecognized compensation cost related to non-vested stock based awards, period for recognition (in years) | 2 years 6 months 7 days | |
2021 CEO Performance Stock Option | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation cost related to non-vested stock-based awards | $ 4.3 | $ 5.6 |
Unrecognized compensation cost related to non-vested stock based awards, period for recognition (in years) | 2 years 9 months |
Stock-based Compensation and _8
Stock-based Compensation and Stockholders' Equity - Stock Option Activity Narrative (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2021 tranche operationalMilestone tradingDay $ / shares shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Grants in period (in shares) | shares | 123,750 | |||
Stock-based compensation expense before taxes | $ 11,014 | $ 7,015 | ||
2021 CEO Performance Stock Option | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Grants in period (in shares) | shares | 1,000,000 | |||
Number of vesting tranches | tranche | 5 | |||
Market price milestone, number of trading days | tradingDay | 60 | |||
Number of operational milestones | operationalMilestone | 5 | |||
Stock-based compensation expense before taxes | 1,300 | $ 900 | ||
Unrecognized compensation cost related to non-vested stock-based awards | $ 4,300 | $ 5,600 | ||
Unrecognized compensation cost related to non-vested stock based awards, period for recognition (more than) (in years) | 2 years 9 months | |||
2021 CEO Performance Stock Option | Tranche One | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Market price milestone (USD per share) | $ / shares | $ 45 | |||
2021 CEO Performance Stock Option | Tranche Five | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Market price milestone (USD per share) | $ / shares | $ 120 |
Stock-based Compensation and _9
Stock-based Compensation and Stockholders' Equity - Summary of Operational and Stock Price Milestones (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Oct. 25, 2022 | Aug. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | $ 1,852,130 | $ 1,032,730 | ||
Milestone One | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | 4,000,000 | |||
Number of units per vesting tranche (in shares) | 200,000 | |||
Milestone Two | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | 4,800,000 | |||
Milestone Two | Subsequent Event | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of units per vesting tranche (in shares) | 200,000 | |||
Milestone Three | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | 5,800,000 | |||
Milestone Four | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | 6,800,000 | |||
Milestone Five | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net sales | $ 8,000,000 | |||
2021 CEO Performance Stock Option | Milestone One | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share price milestone (in dollars per share) | $ 45 | |||
2021 CEO Performance Stock Option | Milestone Two | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share price milestone (in dollars per share) | 60 | |||
2021 CEO Performance Stock Option | Milestone Three | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share price milestone (in dollars per share) | 75 | |||
2021 CEO Performance Stock Option | Milestone Four | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share price milestone (in dollars per share) | 95 | |||
2021 CEO Performance Stock Option | Milestone Five | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share price milestone (in dollars per share) | $ 120 |
Stock-based Compensation and_10
Stock-based Compensation and Stockholders' Equity - Stock Option Activity (Details) | 3 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Options Outstanding | |
Balance at beginning of period (in shares) | shares | 4,311,416 |
Granted (in shares) | shares | 123,750 |
Exercised (in shares) | shares | (405,226) |
Forfeited/Cancelled (in shares) | shares | (9,238) |
Balance at end of period (in shares) | shares | 4,020,702 |
Options vested and exercisable (in shares) | shares | 2,373,832 |
Weighted Average Exercise Price per Share | |
Balance at beginning of period (in dollars per share) | $ / shares | $ 29.99 |
Granted (in dollars per share) | $ / shares | 55.67 |
Exercised (in dollars per share) | $ / shares | 20.10 |
Forfeited/Cancelled (in dollars per share) | $ / shares | 26.61 |
Balance at end of period (in dollars per share) | $ / shares | 31.79 |
Options vested and exercisable (in dollars per share) | $ / shares | $ 24.87 |
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value | |
Weighted average remaining contractual term, options outstanding (in years) | 5 years 9 months 7 days |
Weighted average remaining contractual term, options vested and exercisable (in years) | 3 years 9 months 10 days |
Stock-based Compensation and_11
Stock-based Compensation and Stockholders' Equity - RSU and PRSU Activity Narrative (Details) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2020 tranche shares | Jun. 30, 2021 shares | Jun. 30, 2020 shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of tranches | tranche | 2 | ||
Performance-Based Restricted Stock Units (PRSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of units per vesting tranche (in shares) | 15,000 | ||
Units earned in period (in shares) | 2,939 | 0 |
Stock-based Compensation and_12
Stock-based Compensation and Stockholders' Equity - RSU and PRSU Activity (Details) - Restricted stock units (RSUs) | 3 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Time-Based RSUs Outstanding | |
Balance at beginning of period (in shares) | shares | 1,879,073 |
Granted (in shares) | shares | 446,309 |
Released (in shares) | shares | (193,532) |
Forfeited (in shares) | shares | (52,535) |
Balance at end of period (in shares) | shares | 2,079,315 |
Weighted Average Grant-Date Fair Value per Share | |
Balance at beginning of period (in dollars per share) | $ / shares | $ 33.72 |
Granted (in dollars per share) | $ / shares | 59.84 |
Released (in dollars per share) | $ / shares | 29.61 |
Forfeited (in dollars per share) | $ / shares | 36.99 |
Balance at end of period (in dollars per share) | $ / shares | $ 39.63 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||
Income tax provision | $ 38,934 | $ 3,325 |
Effective tax rate (as a percent) | 17.40% | 11.70% |
Unrecognized tax benefits | $ 41,700 | |
Unrecognized tax benefits that would impact tax rate | 23,900 | |
Increase in unrecognized tax benefits | 3,700 | |
Interest and penalties relating to unrecognized tax benefits | 3,200 | |
Expected decrease in unrecognized tax benefits over next twelve months | $ 3,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | Apr. 08, 2022 USD ($) | Sep. 30, 2022 USD ($) | Feb. 08, 2018 claim |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Number of putative class action complaints | claim | 2 | ||
Litigation settlement amount | $ 18,250,000 | ||
Purchase commitments, total | $ 512,300,000 | ||
Super Micro Computer, Inc. | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Litigation settlement amount | $ 2,000,000 | ||
Affiliated | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Purchase commitments, total | $ 97,700,000 |
Segment Reporting - Narrative (
Segment Reporting - Narrative (Details) | 3 Months Ended |
Sep. 30, 2022 segment | |
Segment Reporting [Abstract] | |
Number of operating segments | 1 |
Segment Reporting - Property, P
Segment Reporting - Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 |
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | $ 290,752 | $ 285,972 |
United States | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | 183,428 | 180,846 |
Asia | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | 104,482 | 102,241 |
Europe | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | $ 2,842 | $ 2,885 |
Uncategorized Items - smci-2022
Label | Element | Value |
Certificates of Deposit [Member] | ||
Restricted Cash and Cash Equivalents | us-gaap_RestrictedCashAndCashEquivalents | $ 300,000 |
Restricted Cash and Cash Equivalents | us-gaap_RestrictedCashAndCashEquivalents | 300,000 |
Money Market Funds [Member] | ||
Restricted Cash and Cash Equivalents | us-gaap_RestrictedCashAndCashEquivalents | 200,000 |
Restricted Cash and Cash Equivalents | us-gaap_RestrictedCashAndCashEquivalents | $ 200,000 |